U.S. Rep. Richard Neal says debt limit ‘should not be demagogued’ – InsuranceNewsNet

WESTFIELD — Pointing to ongoing needs for health care, Social Security, infrastructure and aid to Ukraine’s defense, U.S. Rep. Richard E. Neal said Friday Republicans controlling the House should negotiate a debt ceiling deal soon and not drag it out as a political issue.

Treasury Secretary Janet Yellen said Friday the federal government is on track to max out on its $31.4 trillion borrowing authority as soon as this month, according to the Associated Press.

“Well, there is also some room that the Treasury secretary has on the order and the sequencing which obligations are paid,” U.S. Rep. Richard E. Neal said Friday in Westfield.

“The debt ceiling should not be demagogued,” Neal continued. “This is not about new spending. The debt ceiling is about previous spending.”

Neal said both parties agreed on the CARES Act, which saved the economy during the pandemic, and on spending for national defense.

Speaking in Westfield with its large Ukrainian-American population, Neal also pointed to America’s role in helping Ukraine mount a self defense against the ongoing Russian invasion.

“I hope that the other party agrees on spending for Social Security and Medicare,” he said.

He also pointed to infrastructure like the sewer facility announcement in Westfield, and the CHIPS and Science Act that got bipartisan support.

Neal said that when he chaired the House Committee on Ways and Means, he was able to reach an agreement with then President Donald Trump on a debt ceiling limit. He expects the current Republican leadership in the House to reach a deal with Democrats as well.

“I hope people understand that we have reached these impasses before,” he said. “But we have been able to resolve them.”

He’s now the ranking Democrat on the committee. But he also pointed out that the Republican majority is slim — just four votes.

“We pay our bills,” he said. “It’s the full faith and credit of the U.S. government.”

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