Washington D.C. – It may not be perfect, but Congresswoman Madeleine Bordallo says the compromise bill to raise the debt ceiling and cut federal spending passed in Washington Monday “puts our government on a path toward responsible deficit reduction.”
In a release following the vote, Bordallo said that she is “confident that this agreement will allow Congress to reasonably reduce our national debt, and I will support spending cuts and tax reforms that protect the middle class and our veterans.”
The measure still awaits passage in the Senate.
READ Congresswoman Bordallo statement in FULL below:
House Passes Increase to National Debt Limit
FOR IMMEDIATE RELEASE – August 1, 2011– Washington, D.C. –
Congresswoman Madeleine Z. Bordallo today released the following statement regarding the passage of S. 365, an agreement reached between President Barack Obama and Congressional leaders to increase the national debt limit through 2012 and address long-term deficit reduction. The measure passed the House of Representatives by a vote of 269 yeas to 161 noes. The U.S. Senate will consider the bill on Tuesday, August 2, 2011.
“Tonight the House voted to pass an agreement that finds common ground to avoid a fiscal crisis and provides a framework to address our national debt,” said Congresswoman Bordallo. “This agreement raises the debt ceiling through 2012 and will help ease anxieties in our financial markets. The proposal creates a joint, bipartisan congressional committee that would recommend to Congress long-term spending cuts and tax reforms before the end of the year. This agreement is not perfect, but it reflects compromise by both parties and puts our government on a path toward responsible deficit reduction. Tonight, I joined my colleagues in welcoming Congresswoman Gabby Giffords back to Congress following an attempt on her life in January. Her vote in favor of this agreement underscored the importance of preventing an unprecedented default on our obligations. I am confident that this agreement will allow Congress to reasonably reduce our national debt, and I will support spending cuts and tax reforms that protect the middle class and our veterans.”