Congressman José E. Serrano
Representing the Sixteenth District of New York
PRESS RELEASE

Washington, DC – Congressman José E. Serrano today voted against the debt ceiling package because it cuts core government investments and does nothing to increase revenue from the wealthy.

“For weeks I had hoped that the final package to increase the debt ceiling would be balanced, and would not strike at the services and investments that our nation must continue to make in order to prosper. I had hoped that the package would cause billionaires to share more of the revenue burden and would close special interest tax loopholes. But the final package did not contain either of these provisions.

“I appreciate the difficult situation that President Obama and other negotiators were put in by the intransigence of the Republican Party. The other party would not accept any reasonable compromise and caused this crisis merely to satisfy their political goal of shrinking government. I am sadly disappointed that no Republicans would take responsibility for crafting a fair package and forced a ‘my way or the highway’ approach. They have done a disservice to our nation.

“My constituents will not benefit in the slightest from this package—and in fact will suffer from its effects. They work hard, and pay their taxes, and should not see the social safety net that they rely on slashed solely to preserve low tax rates for billionaires. On their behalf I voted ‘no’ on this senseless package, which will do nothing to create jobs or help the economy grow.

“I hope that the bipartisan committee charged with finding further deficit reductions will take into account the real human consequences of their actions—and will close special interest tax loopholes and end needlessly low tax rates for the ultra-wealthy rather than cutting further into programs that average Americans depend on.

“I am very disappointed by the whole process and the legislative product that has resulted. Our nation was made great by our investments in our people and country, not by preserving wealth for the very few. We seem to have forgotten how our nation became great—through shared sacrifice.”

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Congressman José E. Serrano has represented the Bronx in Congress since 1990.