KC Reporter

Washington, D.C. – Congressman Sam Graves issued the following statement after voting to pass the Limit, Save, Grow Act of 2023 through the House of Representatives today. The legislation addresses the federal debt ceiling and implements spending reforms that would reduce inflation and put America back on a path to financial stability.

“Washington doesn’t have a revenue problem—Washington has a spending problem. Even while we’re collecting record tax revenues, the White House has requested even more deficit spending this year—and they want us to increase their credit limit. If that’s going to happen, the American people need some reassurances that this Administration has a real plan to reduce the deficit and address the ongoing inflation crisis. Our country and the American people can’t afford for this reckless spending spree to continue. I hope President Biden will recognize that reality and work with Republicans and Democrats in Congress to chart a responsible path forward for our country—a path that makes it easier and more affordable for American families to survive and thrive.”

Congressman Graves joined other House Republican leaders in introducing the Limit, Save, Grow Act earlier this week. The bill raises the federal debt ceiling by $1.5 trillion or until March 24th, 2024—whichever comes first. In exchange for increasing the federal debt ceiling, the bill:

Caps federal spending at Fiscal Year 2022 levels and limits discretionary spending growth to 1 percent per year.

Reclaims unspent COVID-19 funds

Defunds President Biden’s IRS army

Repeals Green New Deal tax credits

Blocks the “cancellation” of student loan debt

Strengthens work requirements for welfare programs

Increases congressional oversight of federal regulations

Cuts red tape for energy project permitting

Together, these commonsense reforms would save taxpayers $4.8 trillion over the next 10 years, put our country back on a path to financial responsibility, and drastically reduce the deficit spending that is fueling the current inflation crisis.

Original source can be found here.