April 17, 2023

Senator Warren Responds to McCarthy’s Speech to Wall Street on Debt Limit

Washington, D.C. – United States Senator Elizabeth Warren (D-Mass.) released the following statement following Speaker Kevin McCarthy’s (R-Calif.) speech on the floor of the New York Stock Exchange, in which he called for spending cuts that could throw hundreds of thousands of Americans out of work.

“Speaker McCarthy went to Wall Street to spread Republicans’ message to billionaires and corporate executives: they want hardworking families to pay the cost of keeping the government up and running, while corporations get away with paying as little as possible in taxes – and they’re willing to hold our entire economy hostage to get it done.

“House Republicans’ proposed budget cuts threaten economic disaster and American jobs, all to protect billionaires and giant corporations. Independent analysis from Moody’s shows congressional Republicans' budget cuts could throw 720,000 to over 2.5 million Americans out of work. That’s a non-starter. President Biden must hold firm on behalf of working families, and insist Republicans raise the debt limit swiftly and cleanly as they did time and time again under President Trump.”