Press Releases

Washington, DC – U.S. Rep. Marc Molinaro (NY-19) released the following statement on the Problem Solvers Caucus bipartisan framework to avoid a default on the national debt and advance a sustainable budget:

“President Biden has recklessly spent, borrowed beyond our means, and is now leading us into a debt crisis much sooner than we had originally expected. Speaker McCarthy has invited President Biden to the negotiating table, but so far, the White House has turned away from good-faith, bipartisan talks.

“We have to put politics aside to avoid a default on our debt and bend the current rate of federal spending. If President Biden fails to take action, the Problem Solvers Caucus, with my support, developed a bipartisan plan to temporarily lift the debt ceiling, create a commission to develop recommendations that rein in spending, and implement budget reforms to end the cycle of governing from crisis to crisis. Crucially, this plan also protects Social Security & Medicare.

“This week in Albany, we’re seeing disagreements between Governor Hochul and the Democratic-led Legislature put paychecks of servicemembers at risk. We shouldn’t follow in their footsteps. I’m serious about preventing a debt crisis. This bipartisan plan affirms that.”

Specifically, the Problem Solvers Caucus bipartisan framework:

• Suspends the debt ceiling through December 31, 2023.
• Creates a Fiscal Commission to review and recommend a package to stabilize long-term deficits and debt.
• Implements interim deficit controls to stabilize the nation’s long-term budget.
• Adopts bipartisan budget reform recommendations by the House Committee on Modernization.