WASHINGTON, DC -- Today, following a vote of 218-214 in the U.S. House of Representatives, U.S. Senator Jack Reed (D-RI) issued the following statement assailing passage of Republicans’ ‘big, ugly’ reconciliation budget bill: 

“Republicans knew this bill is a bad deal for their constituents and passed it anyway.  This bill goes against the self-interest of average Americans in favor of the ultra-wealthy and corporations.  It slashes the safety net out from under hardworking families – taking away health care from millions -- in order to give special interests bigger tax benefits.  Republicans structured the bill so the ultra-wealthy can cash out right away while the little guy and average taxpayers will get stuck paying the bill for years to come.

“During this unprecedented time of chaos and dysfunction, it’s easy to get overwhelmed and miss the latest developments. But the negative impacts of this bill must cut through the noise. Americans must be informed about the consequences of this legislation and they deserve to hear plainly from their elected representatives about how this bill is going to impact their families.

“Republicans are shifting a heavier financial burden onto families, communities, hospitals, and states.  Taking away people’s health coverage doesn’t mean they stop getting sick or can’t see a doctor.  Health costs for everyone will rise.  And it takes away over one trillion dollars in federal funding that states and localities rely on to provide vital services like schools, transit, nutrition assistance and aid to families in crisis.

“This fiscally irresponsible giveaway to the wealthy and well-connected is a debt-busting disaster.  It will cost U.S. taxpayers trillions of dollars in interest payments and Republicans unilaterally approved a record breaking $5 trillion dollar debt limit increase.  But that’s just debt already incurred – this bill will add trillions of dollars in future debt when it’s all said and done, with little to no long-term benefit for middle- and working-class families. 

“Whatever short-term economic benefits this bill may offer, it will do lasting destructive damage to U.S. finances and young Americans will be forced to pay for it long after Donald Trump is gone.”