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Washington D.C. – The extreme MAGA House majority is desperate to deflect blame for the U.S. credit downgrade last night from ratings agency Fitch, which cited among other factors a “steady deterioration in standards of governance,” “repeated debt-limit political standoffs” and “tax cuts” like the Trump-era tax breaks for the wealthy – all longtime priorities of conservatives in Congress. As everyday American families now brace for higher interest rates on everything from mortgages to new cars due to the downgrade, reportedly, “in a meeting with Biden administration officials, representatives from Fitch Ratings repeatedly highlighted the January 6th insurrection as a significant concern as it relates to US governance.” In May, Fitch placed the United States’ “perfect” credit rating on notice for a “potential credit downgrade” as a direct result of the near-default crisis, which was entirely manufactured by Republicans in the U.S. House.  

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This U.S. credit downgrade has many creators in the extreme MAGA House majority. From the MAGA extremists who needlessly drove the nation to default’s edge. To Republicans in Congress who tried to finish what the insurrectionists started by voting to toss out the 2020 election results and who now are trying to suppress voters of color. To the Republicans that backed the multi-trillion-dollar Trump era tax giveaways for billionaires and corporations that exploded the deficit and failed to grow the middle class. To those in the MAGA House that just advanced another trillion-dollar tax handout for corporations that outsource American jobs and price-gouge families.

Liz Zelnick, Director of Accountable.US’ Economic Security & Corporate Power.

“Despite the harm caused to everyday families by the MAGA majority’s love of trickle-down tax schemes, undermining democracy, and economic hostage-taking, they’ve made matters worse by skipping town rather than doing their basic duty of funding the government,” added Zelnick. “If inviting another credit downgrade and recession is all part of the MAGA majority’s plan for more political stunts, they should at least be honest about it,” Zelnick continued.

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