House Republicans' Default On America Act
Default On America Act
Extreme MAGA Republicans are threatening to default on America's bills for the first time in history unless their demands are met.
House Republicans have issued a ransom note demanding cruel cuts that will hurt working Americans across the country and tank our economic recovery — all while lavishing a huge new giveaway on billionaires and big corporations.
Speaker McCarthy's extreme ransom note would:
Cut funding for schools and strip away access to child care.
Kick hundreds of thousands of families out of their homes.
Force communities to lay off thousands of first responders.
Rip food assistance from low-income parents and older Americans.
Make it easier for polluters to poison communities.
Give a huge windfall to billionaires and big corporations.
See the impact of Republicans' extreme demands and their default threats on your community.
Data Provided By The Joint Economic Committee, White House, the Center on Budget and Policy Priorities, Third Way, Climate Power, Veterans' Affairs Committee Democrats, and Moody's Analytics.
If extreme MAGA Republicans decide to default, the resulting economic calamity will cost everyday Americans dearly:
Millions of jobs will disappear.
The cost of car payments, student loans, credit card bills, and mortgages will all skyrocket.
Seniors on Social Security won’t get their checks.
People near retirement will lose tens of thousands in savings.
Veterans may stop receiving the benefits they have earned.
Our economy will be plunged into recession.
Additional State and Local Data Resources:
- The White House: STATE FACT SHEETS: MAGA House Republicans’ Default on America Act Would Have Devastating Impacts Across America
- Joint Economic Committee Democrats: Update: The Steep Costs of a Republican Default Crisis
- Joint Economic Committee Democrats: How The Default on America Act Hurts the U.S. Economy - State and District Data
- Center on Budget and Policy Priorities: Roundup: Analyzing House Republicans’ Harmful Debt-Ceiling-and-Cuts Bill
- Center on Budget and Policy Priorities: Speaker McCarthy’s SNAP Proposal Would Take Food Away From Older Adults for Not Meeting Work Requirements
- Center on Budget and Policy Priorities: Republican Debt-Ceiling-and-Cuts Bill Would Cost States and Local Communities $1.3 Trillion
- Third Way: The High Costs of Default for Americans in Every State and District
- Climate Power: NEW REPORT from Climate Power Illustrates the Clean Energy Jobs Boom in the States
- Moody’s Analytics: Going Down the Debt Limit Rabbit Hole
- Moody’s Analytics: Debt Limit Scenario Update