Trahan Votes to Prevent Economic Catastrophe for Massachusetts Families

Congresswoman Lori Trahan | Official U.S. House headshot

By Merrimack Valley News Report

Jun 4, 2023

WASHINGTON, DC – On May 31, Congresswoman Lori Trahan (MA-03) voted in favor of the Bipartisan Budget Agreement that will prevent a default on the nation’s debt, which would have had catastrophic impacts on families across Massachusetts.

“A default on our debt would be disastrous for working families here in Massachusetts and across our nation. For months, House Republicans have held the livelihoods of families, veterans, and seniors hostage, something that the conference’s most far right members proudly touted,” Congresswoman Trahan said. “Some Republicans even called on Speaker McCarthy to force a default no matter what negotiations with the White House produced, a catastrophe that would’ve killed millions of jobs, jeopardized social security payments, limited access to health care for seniors and veterans, slashed workers’ retirement savings, and increased costs for families at the worst possible time.”

“This deal is far from perfect. It represents the reality that the majority party in the House of Representatives is controlled by a group of extremists with little interest in actually governing. That’s why the priorities secured in the agreement by the President and his team of negotiators are imperative,” Congresswoman Trahan continued. “Above all else, this bipartisan legislation fulfills our obligation to uphold the full faith and credit of the United States, which is why I voted yes. Moving forward, I remain committed to the vitally important work of strengthening our environmental protections and bolstering the programs that working families rely on to make ends meet.”

Over the past four months, House Republicans have held the economy and the livelihoods of working families “hostage” while demanding severe cuts to federal programs those same families rely on as ransom. Last month, the Republican majority in the House passed legislation along party lines that would have slashed federal funding for child care, food assistance, rental assistance, veterans’ health care, opioid and addiction treatment, and public safety programs. Following passage of the partisan bill and despite ongoing negotiations with the White House, leaders in the Republican Party, including former President Donald Trump, called on House Republicans to force a default anyways.

Without passage of the Bipartisan Budget Agreement, Republicans would have successfully forced the United States to default on its debt payments. The effects of a default on Massachusetts families would’ve included:

Eliminating 73,000 jobs statewide, including 7,900 jobs in the Third District alone.
Putting social security payments at risk for 823,000 families, including 89,000 families in the Third District.
Jeopardizing health benefits for 2.5 million Massachusetts residents who rely on Medicare, Medicaid, or Veterans Affairs health coverage, including 317,000 people in the Third District.
Increasing lifetime mortgage costs for the typical homeowner in Massachusetts by $90,000.
Raising the costs of a new car loan for the typical American by $800.
Threatening the retirement savings of 962,000 Massachusetts residents near retirement, including 115,900 people in the Third District, by eliminating $20,000 from the typical retirement portfolio.

During negotiations leading up to the Bipartisan Budget Agreement, the White House took steps to defeat many of House Republicans’ most extreme demands, including:

Successfully blocking all Republican attempts to risk Medicaid benefits for 21 million Americans.
Fully funding veterans’ medical care, including funding in the Honoring Our PACT Act’s toxic exposure fund to care for veterans and servicemembers exposed to burn pits.
Securing SNAP eligibility expansions for veterans, homeless individuals, and others while also preventing children from losing access to critical food assistance – a move that is estimated to expand SNAP benefits to an additional 78,000 Americans.
Preventing TANF changes that would have jeopardized the ability of states like Massachusetts to support vulnerable children.
Preserving funding for clean energy initiatives in traditionally disadvantaged communities, including many in the Merrimack Valley and North Central Massachusetts.
Protecting President Biden’s plan to provide student debt relief directly to 800,000 borrowers in Massachusetts while also preserving the Income-Driven Repayment plan that has cut loan payments in half for eligible borrowers.
Despite agreeing to repurpose a portion of the IRS’s funding previously allocated through the Inflation Reduction Act, the agreement protects the IRS’s ability to improve customer service for taxpayers and crack down on wealthy tax cheats.
Retaining funding for key public health priorities to prepare for future pandemics and possible COVID-19 surges, a priority of Trahan’s as a Co-Founder of the bipartisan Pandemic Preparedness Caucus.