The U.S. Treasury is expected to run out of money as early as June 1st unless Congress acts to allow the nation to pay its past bills and avert default.
The Republican solution to this problem is bill HR 2811, passed in the House on April 26th, 2023, along party lines with 217 Republicans voting yes and 215 Democrats voting no (three members failed to vote). The bill is now in the Senate for consideration. A yes vote for the bill lifts the debt ceiling temporarily to March 31st, 2024. Still, it also contains many pages of requirements that will rescind progressive actions on student debt relief, clean energy, assistance programs for people experiencing poverty, and more.
According to the non-partisan Congressional Research Service of the Library of Congress, which analyzes all Congressional bills, HR 2811 requires:
- End of executive orders and regulations for canceling federal student loan debt – implementing an income-driven repayment plan for student loans instead
- Repeal or modification of tax credits for renewable and clean energy, energy-efficient property, alternative fuels, and electric vehicles
- New work requirements for recipients of Medicaid (health program), the Supplemental Nutrition Assistance Program, and the Temporary Assistance for Families in Need programs
Other measures in the bill would go further and:
- Require additional federal oil and gas leasing (on- and off-shore) and streamlined permits
- Oppose restrictions on the export of crude oil or other petroleum products
- Repeal greenhouse gas reduction fund
- End delays in chemical substance review
- Prohibit proposed tax hikes on the oil and natural gas industries in the 2024 budget
- Prohibit Moratorium on Fracking
- Encourage future coal leasing
- Rescission of unobligated funds made available by The American Rescue Plan
and much more along these lines.
(Read the entire bill by visiting https://www.congress.gov/bill/118th-congress/house-bill/2811/text and as it moves through the Senate by visiting https://www.congress.gov/bill/118th-congress/house-bill/2811/all-actions?overview=closed#tabs
Fullerton is divided between the 45th Congressional District, represented by Michelle Steele (R-CA-45), who voted yes on the House Republican default bill, and the 46th District, where Representative Lou Correa (D-46) voted no. ( A NO vote allows the government to pay for past spending and expenditures already passed by Congress or executive order.)
- 45th District Representative Michelle Steel (https://steel.house.gov/contact) The 45th Congressional District includes the cities of Fountain Valley, Westminster, Garden Grove, Cypress, Buena Park, Cerritos, Artesia, La Palma, Placentia, Hawaiian Gardens, Los Alamitos, Rossmoor, and parts of Brea, Lakewood, Fullerton, and Yorba Linda.
- 46th District Representative Lou Correa (https://correa.house.gov/) The 46th Congressional District includes the cities of Anaheim, Santa Ana, and Stanton and parts of Orange and Fullerton.