Washington, D.C. - Congressman Dave Loebsack released the following statement today after the House voted to temporarily suspend the debt ceiling. The bill also sets in motion legislation that would withhold the pay of Members of Congress if they do not pass a budget. Loebsack was the second cosponsor of the No Budget, No Pay Act in 2011 and is an original cosponsor of similar legislation this Congress.
"While today's vote temporarily moves us away from the threat of defaulting on the debt our nation has already incurred, it does nothing to address our most pressing problem - growing the economy and setting our country on a sustainable path. Today's vote is just another example of Congress kicking the can down the road without actually dealing with the issue at hand. Even though I believe we should provide more long-term certainty for our economy and job creators, I cannot allow the ineptitude of Congress to affect adversely small business owners and the pocketbooks of Iowans. Defaulting on our loans would simply be kicking the economy when it is already down.
"Further, it is unacceptable that Members of Congress continue to be paid without carrying out one of their main duties - passing a budget each year. It is time for Members to do their part, and that is why I strongly support the No Budget, No Pay Act to hold Members accountable for getting their job done."
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