The passage of the Budget Control Act represents a serious shift in the mindset of how Washington has approached raising the debt limit. Congress has rightly focused this debate on how much to cut, instead of how much to spend. This year began with the President’s call on Congress to raise the debt limit by $2 trillion with zero cuts. The President was also insistent on raising taxes.
I joined with a majority of my colleagues to focus on cutting spending as opposed to increasing revenue. As a result, the bipartisan legislation cuts trillions of dollars from the debt, doesn’t raise taxes and takes serious steps toward a path of fiscal solvency. This bill also focuses on the critical vote of a balanced budget amendment, which is an important aspect to fixing our problem for the longer term.
“While this has been a frustrating and lengthy process, I think the finished product is something to be proud of. It’s not perfect. In fact, it’s far from perfect, but with divided government neither side gets everything they want. A great number of Republicans and Democrats who joined together in support of this legislation is evident of its support. This bill continues to put our government on track for the first time since World War II to spend less than the previous year.
“America still has a debt crisis, but tonight was a step in the right direction toward putting our budget back on a path of fiscal solvency.”