WASHINGTON, DC: Today, Congresswoman Jen Kiggans (VA-02) released the following statement after voting in favor of H.R. 2811, the Limit, Save, Grow Act of 2023. H.R. 2811 slashes wasteful government spending and places America on the path to fiscal sanity while ensuring the United States does not default on its debts by responsibly raising the debt ceiling into next year. In total, the Limit, Save, Grow Act of 2023 is estimated to save taxpayers over $4.5 trillion.
“I came to Congress to change the direction that our country is heading in; today is a big step in completing that mission,” said Congresswoman Kiggans. “Families in Virginia’s Second District have been hit hard by inflation fueled by Washington’s wasteful spending. After only two years under the Biden Administration, our federal deficit has grown by over $6 trillion…that is unacceptable for our country and especially for our children who will inherit this deficit.”
“The Limit, Save, Grow Act would save taxpayers trillions of dollars over the next 10 years and curb the high inflation hurting my constituents—all while protecting Social Security and Medicare benefits for seniors and responsibly lifting the debt ceiling into next year,” Congresswoman Kiggans continued. “What this bill does not do is cut veterans’ benefits like the White House is falsely claiming. The Administration is turning our veterans into political pawns with their dishonest rhetoric and that is wrong. This bill certainly isn’t perfect, but it gets us to the negotiating table. While the President has offered no plan to avoid default, I am proud to be a part of this new majority that is putting forward solutions and showing the American people that we are committed to sensible debt ceiling negotiations.”
Prior to voting in favor of H.R. 2811, Congresswoman Kiggans engaged in a colloquy with Republican leadership on the House floor, advocating for certain energy tax credits that positively impact Virginia’s Second District. She received confirmation that she will be able to address these concerns and advocate for the interests of her district as Congress moves forward with further debt ceiling negotiations.
Specifically, H.R. 2811 would, among other things:
- return FY24 spending to FY22 levels and implement 1% federal spending growth cap per year for the next ten years (saving approximately $3.6 trillion);
- save approximately $50-60 billion by reclaiming unspent COVID-19 pandemic funds;
- repeal approximately $71 billion for 87,000 new IRS Agents provided by the ill-named Inflation Reduction Act of 2022; and
- prevent executive overreach that attempts to unilaterally enact new federal spending outside of the Congressional appropriations process.
Importantly, the nonpartisan Congressional Budget Office estimates that H.R. 2811 would – over the next 10 years – reduce budget deficits by $4.8 trillion, increase revenue by $0.4 trillion, and decrease interest on the public debt by $500 billion.
The full text of H.R. 2811 can be found here.