US EditionRepublicans split on US credit downgrade as party's tax bill lingers
- Moody's downgraded the U.S. Sovereign credit rating to "Aa1" due to ongoing fiscal deficits and rising interest costs.
- Representative Jason Smith described Moody's downgrade as "a cover-up of President Biden's economic failures."
- Representative Andy Harris warned that the downgrade signals a need to address the debt crisis.
- House Speaker Mike Johnson is facing challenges in negotiations within his party, which has a slim majority regarding the tax and budget bill.
20 Articles
20 Articles
Republicans Can’t Agree on What Moody’s Downgrade Means - WhoWhatWhy
Even though they have had 48 hours to figure out how to react to Moody’s decision to downgrade the credit rating of the United States, Republicans have still not come up with a narrative to sell their voters on. In fact, they are all over the place… and none of their explanations make any sense. Treasury Secretary Scott Bessent, for example, called Moody’s “a lagging indicator” and suggested that its decision was purely a reflection of governmen…
Republicans split on US credit downgrade as party's tax bill lingers
Moody's downgrade of the U.S. sovereign credit rating has elicited mixed responses among Republicans in Congress, with some questioning the motive behind the change and others depicting it as a warning that lawmakers should heed as they wrestle with a sweeping tax and budget bill.
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