WASHINGTON, D.C. — Today, U.S. Senator Alex Padilla (D-Calif.) joined Senate Majority Charles E. Schumer (D-N.Y.), Chris Van Hollen (D-Md.), and Debbie Stabenow (D-Mich.) at a press conference following Senate Democrats’ caucus meeting. In his remarks, Padilla expressed his frustration with Republican efforts to hold the American people and economy hostage and called on Speaker McCarthy and his party to lift the debt ceiling so the United States can pay its bills.

“Republicans still have time to come to the table and avoid a debt default,” said Senator Padilla. “But if they don’t, countless families across the country will be coming to their kitchen tables to have a much more dire financial conversation. Speaker McCarthy, Republicans, don’t default on America.”

Video of Padilla’s remarks is available here.

A full transcript of Padilla’s remarks, as delivered, are below:

Thank you, Leader Schumer, Senators Stabenow, Van Hollen. Thank you all for being here this afternoon. While, I’m absolutely frustrated that House Republicans are holding the American people hostage once again, can’t exactly say that I’m surprised.

See, time and again, extreme MAGA Republicans have attacked our democracy. They’ve attacked our constitutional rights, and now they’re threatening America’s economy. So yes, today we’re saying that default cannot, should not, be on the negotiating table. And forcing the country to default for the first time in our nation’s history shouldn’t even be part of the conversation. This is about protecting the American people and what they have already earned.

If we get to that point, here’s what people should be very well aware of, and what to expect. You know, I think of the working families across California and across the country who worked so hard and sacrificed so much, to buy a home and make their mortgage payments. If we were to default, mortgage rates would skyrocket. Working Families would pay the price. I think of veterans who served our country in uniform and were willing to pay the ultimate sacrifice, but who would have their Veterans Benefits interrupted if we go into default. And I think of the millions of seniors across the country, who would see their social security benefits halted because speaker McCarthy and MAGA Republicans want to hold them hostage for their extreme demands. The list goes on and on.

Now, as we’ve heard from all the senators up here, we can absolutely have a responsible conversation about spending in this country. There is a time and a place for that. That’s the budget and appropriations process. Not, however, as we approach a fiscal cliff, when we know full well, that it’ll be working families across the country who stand to lose the most. The good news is there still a little bit of time. Republicans still have time to come to the table and avoid a debt default, just think about the numerous times in the past, under both Republican and Democratic presidents. But if they don’t, countless families across the country will be coming to their kitchen tables to have a much more dire financial conversation.

Speaker McCarthy, Republicans, don’t default on America. Thank you.

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