Washington, D.C. –Today, Congressman Joe Donnelly released the following statement regarding the agreement reached between Republicans and Democrats to avoid default and get our nation’s fiscal house in order.  

“This messy process has continued to threaten our economy because too few of my colleagues were willing to seriously negotiate until the last minute.  Americans deserve better from legislators on both sides of the aisle.

“This legislation is far from perfect.  I would have preferred that any increase in the debt limit be accompanied by common-sense solutions such as closing tax loopholes for companies that ship jobs overseas and ending tax breaks for big oil companies.  Yet the possibility of defaulting on our nation’s obligations, potentially causing catastrophic harm to our already fragile economy, is not an option for me.  I will support the legislation before the House today because America’s economic future depends on it.

“Part of getting our nation’s fiscal house in order is cutting spending, and I have said that any increase in the debt limit must be accompanied by spending cuts.  This bipartisan proposal would cut spending by an amount more than the increase that it authorizes in the debt limit.  I have also said that to the greatest extent possible, we should seek fairness in these cuts, meaning the least among us shouldn’t bear a disproportionate amount of the burden.  The cuts in this bill would be achieved without affecting Social Security recipients, Medicare beneficiaries, veterans, or those on Medicaid.  It also would protect increases in Pell Grants, the tools that allow more Americans to access higher education and compete for better jobs.”

The House is expected to vote on The Budget Control Act of 2011, S. 365, later this evening.

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