Congress must vote to increase the nation’s debt limit by early August. Economists warn that failure to do so would bring catastrophic damage to our economy. While traditionally a nonpartisan vote, the Republican congressional leadership is insisting that a deal to reduce the deficit be tied to the vote.
While there is a tentative bipartisan agreement to reduce the deficit by $4 trillion over the next 10 to 12 years, there is no agreement on how to get there. Republicans favor using only spending cuts to achieve this goal, and flat out oppose any proposals to increase revenues, such as eliminating unnecessary tax cuts for the wealthy and subsidies to corporations. Democrats support a more balanced approach, including prudent spending cuts along with closing corporate tax giveaways and increasing taxes on those most able to afford them.
As we approach the deadline on the debt limit, it’s important that you urge your representative and senators to support a balanced plan that includes spending cuts and revenue enhancers. They also need to hear that education and other key programs such as early education programs, title I and Pell Grants must be protected during these negotiations. Education is an investment in our children, our economy and our country and should not be on the chopping block.