CBS News
Rep. Tom Cole says “the reservoir of goodwill is enormous” for House Speaker amid effort to oust him
Washington — Rep. Tom Cole, an Oklahoma Republican who leads the House Appropriations Committee, said Sunday that despite a growing threat to oust House Speaker Mike Johnson, he’s “much stronger than people seem to think,” noting that “the reservoir of goodwill is enormous.”
“I actually think he’s, you know, empowered the center and marginalized the extremes on each side,” Cole said on “Face the Nation” on Sunday. “Now, is there some risk for that? Sure. But the point is, he’s gotten a lot done. I think people admire him. They genuinely like him.”
The Louisiana Republican has faced pushback in recent weeks for his handling of the government funding process, prompting Rep. Marjorie Taylor Greene, a Georgia Republican, to file a motion to vacate, threatening to bring up a vote for his ouster. That frustration was bolstered by his shepherding of a foreign aid package that the House approved on Saturday, which some conservatives also opposed. And though Greene has yet to commit to a timeline for bringing up a vote on Johnson’s removal, she’s gained some backers in recent days.
The effort to oust Johnson now has three public Republican supporters: Greene, Rep. Thomas Massie of Kentucky and Paul Gosar of Arizona, who announced his support for the effort on Friday. Republicans have a razor-thin majority at the moment, so Johnson can only afford to lose one vote unless they get support from Democrats.
CBS News
But Cole made clear that “it’s a relatively small number” of Republicans who would support a motion to oust Johnson, saying he doesn’t anticipate that “we’d lose the same number of Republicans that we lost with Kevin McCarthy,” who was last year the first speaker to be removed from his post in October under similar circumstances.
“There’s a lot of people that like the speaker, that respect the speaker, even when they disagree with him,” Cole said. “They know he’s honest, he’s a straight shooter. They also had a taste of what it’s like to go without a speaker for three weeks. I don’t think they want that again.”
Joining the eight Republicans who voted to boot McCarthy from the post was every Democrat. And the same might not be true for Johnson. Cole said he doesn’t believe there’s unified Democratic support to remove Johnson, saying that it’s unlikely for Democrats who supported the foreign aid package, particularly its aid for Ukraine, to vote to oust the speaker.
“I think both sides have now seen how dangerous this is, how irresponsible it is,” Cole said. “But if somebody wants to do it, it’s within the rules and they can take their shot.”
Watch CBS News
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.
nui/Getty Images
If you’re tired of making monthly credit card payments only to see minimal reductions in your balances then you may be looking into debt relief options. Credit card debt forgiveness is one to consider.
Debt forgiveness companies aim to help you save money and get out of debt faster through negotiations. If those negotiations are successful, your credit card companies may forgive a percentage of your balances, which could provide the relief you’re looking for.
But, like all debt relief options, credit card debt forgiveness isn’t a one-size-fits-all solution. So, what are some signs that credit card debt forgiveness may not work for you? That’s what we will detail below.
Let a debt relief expert help you put your credit card debt behind you now.
4 signs credit card debt forgiveness may not work for you
While credit card debt forgiveness programs are a good fit for some borrowers, they aren’t perfect for everyone. Here are a few signs that credit card debt forgiveness may not work for you:
You always make your payments on time
Credit card debt forgiveness is typically designed for borrowers who can’t consistently make minimum payments. So, if you make your credit card payments on time, every time, that may be a sign that these programs aren’t a good fit for you.
There are a wide range of debt relief options. And, credit card debt forgiveness is a more extreme option that can come with more significant repercussions than others. So, if you can afford to make your monthly payments on time – even if it’s not always comfortable – other debt relief solutions may be a better fit.
Find alternatives to credit card debt settlement here.
You don’t have enough credit card debt
Most credit card debt forgiveness companies require minimum debt amounts to qualify for their services. For example, you’ll need at least $10,000 in credit card debt to qualify for the services Accredited Debt Relief provides and Freedom Debt Relief and National Debt Relief both impose $7,500 minimums. If you have under $7,500 in credit card debt, you may be hard-pressed to find a service provider to work with.
You already have a judgment
If you forego payments to your credit card companies for too long, they may sue you for the money you owe. And, if your credit card companies sell your debt to a debt collector, that collector may take you to court, too.
If you lose the case, your credit card companies, or the debt collectors they’ve sold your debt to, may win judgments against you. Those judgments can give them leverage, making them less likely to negotiate what you owe. While you may be able to settle a debt following a judgment against you, doing so may be more difficult. So, if you already have one or more judgments against you and can’t afford to pay the debt back, bankruptcy may be a better option.
You’re considering a large purchase
Credit card debt forgiveness may not be your best debt relief option if you want to make a large purchase, like a home or car. That’s because these solutions can harm your credit score, making it difficult to access new loans.
“Asking for payment relief or debt forgiveness should be given serious consideration prior to taking action,” explains Michael Broughton, founder and CEO of the credit-building app, ALTRO. “Once you request a change to terms or a lower payment, your credit could be impacted and the chances that you will be able to get loans for other, unrelated items can be severely diminished.”
The bottom line
Credit card debt forgiveness is a fitting solution for many people – especially if they can’t afford their minimum payments. But, it’s not the best fit for everyone. You may want to consider other options if you always make your payments on time, don’t have enough credit card debt, already have judgments against you or you’re in the market for a large purchase. Chat with an expert about your debt relief options now.
Watch CBS News
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.
