Thank you again for reaching out with your message of support for raising the debt ceiling. I wanted to provide you with an important update:
Last night, the U.S. House of Representatives voted to pass the Fiscal Responsibility Act to raise the debt ceiling and avoid default:
- This bill passed with overwhelming bipartisan support.
- As promised, this bill also fully protects Medicare, Social Security, and veteran’s benefits.
Importantly, by preventing default, this bill will provide critical certainty to Iowans who rely on the government to pay its bills on time and prevent a catastrophic interest rate increase that would have made it nearly impossible for first time home buyers and Iowa’s aspiring small business owners.
The bill is now headed to the Senate where I expect it will be passed soon to head to the President’s desk and be signed into law.