WASHINGTON, DC: Today, Congresswoman Jen Kiggans (VA-02) released the following statement after H.R. 3746, the Fiscal Responsibility Act of 2023, passed the U.S. House.
“I came to Congress to restore strength in our economy; today’s vote on the ‘Fiscal Responsibility Act’ is an important first step in reaching that goal.
“I had two options to vote on this bill: yes or no. While I wish the bill reversed more wasteful spending and held the Biden administration more accountable, at the end of the day Washington is going to spend less money next year than it is this year, and that is something I am proud to support; therefore, I voted ‘yes’. Voting ‘no’ would cause our country to default on its debt. Defaulting would be a disaster for American families already struggling under inflation caused by years of the government spending more money than we have. I am not willing to take that vote.
“For months, President Biden insisted that we pass a clean debt ceiling increase without any spending cuts. This would have given the government a blank check to continue with the runaway spending that has ruined our economy. By passing the original ‘Limit, Save, Grow Act,’ our new House majority forced the President to finally come to the table and negotiate. As a result of those negotiations, we secured meaningful cuts to government spending, got rid of red tape that limits American growth, will hold the executive branch accountable for its spending, and avoid default. Importantly – much like our Limit, Save, Grow Act – this bill does not make cuts to veterans’ benefits, Social Security, or Medicare.
“This bill is the result of compromise and reflects the realities of a divided government. However, there is no denying today we took a big step in the right direction by passing the most consequential spending reduction in over a decade. But we can’t stop here. We must continue working to fix all of the problems that Washington’s wasteful spending has created.”
Highlights of the bipartisan Fiscal Responsibility Act include:
- Cutting over $2 trillion in government spending while fully funding veterans’ programs, Social Security, and Medicare.
- Enacting consequential reforms to SNAP and TANF to save taxpayer dollars, get Americans back to work, and grow the economy.
- Adjusts the age of existing SNAP work requirements from 18-49 (current law) to 18-54 for able-bodied workers without dependents (maintaining current law exemptions for parents, pregnant women, students, and those with disabilities).
- Cutting red tape and streamlining energy and infrastructure projects with the first significant reform to the National Environmental Policy Act (NEPA) since 1982.
- Slashing funding for thousands of new IRS Agents.
- Restarting student loan repayments, saving taxpayers an estimated $5 billion per month
- Compelling a functioning appropriations process by imposing a temporary 99% CR-level cap until all 12 appropriations bills are enacted.
- Rejecting all of President Biden’s $5 trillion in proposed new tax increases, new government mandates, and new federal programs.
The full bill text can be found here.