Congresswoman Terri Sewell, D-Alabama, voted to adopt HR5304. This legislation would extend government funding until December 3, suspend the debt ceiling to protect the full faith and credit of the United States, and provide emergency funding to deal with recent natural disasters and resettlement of the United States. Afghan refugees. The bill was passed in the House of Representatives.
“This legislation is absolutely essential to the well-being of the United States,” Sewell said. “In addition to providing critical emergency funds to deal with Hurricane Ida and the resettlement of Afghan refugees, it would also prevent a global financial collapse by ensuring that the United States meets its financial obligations to the world. Supporting this bill is the responsible thing to do, and I was proud to vote for it today.
Sewell’s office said HR5304 includes provisions that:
- Extend funding for vital federal agencies, including education, health, housing and public safety programs until December 3.
- Fund and develop opportunities through early childhood education, investments in our schools and high quality vocational training programs
- Provide a lifeline to vulnerable people through nutrition and affordable housing.
- Honor the solemn responsibility of Congress to secure our nation and support our veterans.
- Provide $ 28.6 billion in emergency funding to address the growing cost of climate change during recent natural disasters, including Hurricane Ida, forest fires, severe droughts and winter storms.
- Providing an additional $ 6.3 billion in funding to support the Afghan evacuees includes funding to temporarily house the evacuees at U.S. facilities and in foreign countries, provide the necessary security checks, and ultimately relocate the evacuees to the United States. United. The legislation also provides funding to provide humanitarian assistance to Afghan refugees in neighboring countries.
- Suspend the debt limit until December 2022, in order to meet the obligations the government has already undertaken and to protect the full confidence and credit of the United States.
Sewell’s office warned that failure to raise or suspend the debt limit would be catastrophic and the first default in U.S. history, potentially jeopardizing all U.S. government payments, including social security payments, veterans benefits, military pay, payments to defense contractors, etc. It would also hurt American families by pushing up interest rates and likely triggering a nationwide recession, potentially damaging the livelihoods and savings of millions of working families across the country.
A default could potentially trigger a global financial crisis, as financial markets currently regard US debt as the safest asset, with all other assets in the world compared to the United States. A default would send waves of financial panic cascading across many other markets.
US debt stands at nearly $ 28.8 trillion, and neither party has come up with a plan to balance the federal budget over the next four years.
Sewell is in his sixth term and represents Alabama’s 7th Congressional District.