Debt ceiling agreement targets the poor while protecting the wealthy
On this edition of Your Call, we discuss the latest debt ceiling agreement between President Biden and Speaker Kevin McCarthy.
The plan targets the most vulnerable people in the country by expanding work requirements for those who receive food assistance. The Center on Budget and Policy Priorities says this will increase hunger and poverty among very low-income older adults.
Republicans also successfully fought to cut $20B of the $80B in new IRS funding approved by Democrats last year to go after wealthy tax dodgers, according to the Washington Post. Republicans say tax increases and cuts to the growing military budget are off the table.
Senator Senator Tim Kaine (D-Virginia) will file an amendment to strip the West Virginia Mountain Valley Pipeline from the bill, saying, "This provision is completely unrelated to the debt ceiling matter." Senator Joe Manchin (D-WV) fought to include that provision in the final package.
Center on Budget and Policy Priorities: Most Working-Age SNAP Participants Work But Job Instability Overstates Joblessness in Some Analyses
Center on Budget and Policy Priorities: Debt Ceiling Agreement Reflects Improvements Over House Bill, Harmful Provisions Remain
The New York Times: Debt Ceiling Deal Includes New Work Requirements for Food Stamps
Institute on Taxation and Economic Policy: ITEP Statement: Debt Deal Avoids the Elephant in the Room
Revolving Door Project: Revolving Door Project Reacts to Biden’s Debt Ceiling Cave & the Media’s Incompetent Coverage