Conyers: Debt deal is bad for workers

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I strongly oppose this legislation. The Budget Control Act compromises our basic commitment to provide assistance to the most vulnerable members of society. It invests too much power in the hands of a special congressional committee. It excludes revenue raising measures and does not close loopholes exploited by tax-evading corporations. It offers scant protection for the poor and working families who rely on Medicare, Medicaid, and Social Security. Specifically the legislation:

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Excludes revenues. While making drastic cuts to programs vital to working families, the legislation does nothing to close corporate tax loopholes or corporate subsidies, such as those provided to large oil companies, billionaire hedge fund managers, and corporate jet owners.·

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Cuts billions of dollars to crucial domestic programs. The legislation puts programs on the chopping block that working Americans rely upon in areas such as healthcare, education, and transportation.

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Eliminates Federal Direct Stafford loans for graduate students. At a time when we should be training the next generation of doctors, engineers, and innovators, this legislation will make it more difficult for Americans to obtain advanced degrees. This will harm American competitiveness and cost jobs. ·

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Creates a special congressional committee with the power to cut important social programs such as Medicare, Medicaid, and Social Security with no input from the rest of Congress. Furthermore, should Congress choose not to adopt the recommendations of the special committee, the legislation triggers 1.2 trillion dollars in devastating cuts.