On the recordMay 30, 2023
So, Mr. President, 3 days ago, President Biden and Speaker McCarthy announced a bipartisan budget agreement that will protect the U.S. economy while eliminating the threat of a catastrophic default. I support the bipartisan agreement that President Biden has produced with Speaker McCarthy. Avoiding default is an absolute imperative. The damage that default would inflict on our country, our economy, and our families would be enormous and take years from which to recover. Of course, nobody is getting everything they want. There is give on both sides. But this agreement is the responsible, prudent, and very necessary way forward. Today, the House of Representatives is beginning the process of moving that legislation through the Chamber. When this bill arrives in the Senate, it is my plan to bring it to the floor as quickly as possible for consideration. Senators must be prepared to act with urgency to send a final product to the President's desk before the June 5 deadline. I commend President Biden and his team for producing a sensible compromise under the most difficult of circumstances. The bipartisan agreement accomplishes two major goals: First and foremost, it takes default off the table, sparing Americans from immense economic pain, and, second, it protects key investments that are essential for growing our economy, for fixing our infrastructure, and for making the United States more competitive on the world stage.…





