WASHINGTON, D.C. – Congressman Mark Amodei (NV-02) made the following statement after voting for the Fiscal Responsibility Act, legislation that will responsibly raise the debt ceiling into 2025, all while enacting provisions to limit Washington’s irresponsible spending.
“I voted to support the Fiscal Responsibility Act because it does what is possible in a divided government to stop the out-of-control spending that has plagued Washington for far too long. It also secures a variety of historic wins that will help create a better future for the American people, many of which would have never seen the President’s desk as standalone pieces of legislation.
“Keep in mind, it was just a few weeks ago when President Biden was refusing to negotiate a deal on the debt ceiling. By passing our original debt ceiling bill – the Limit, Save, Grow Act – we were ultimately able to force the President to join us at the negotiating table and finally come to an agreement.
“The Fiscal Responsibility Act is a major win for the American people, especially when the alternatives are a clean debt ceiling lift or defaulting on our obligations. No less, the bottom line is, allowing us to go past the debt ceiling deadline would create catastrophic consequences – including strategic weakness, economic weakness, inflationary weakness, and would immediately put Social Security and other entitlement benefits at risk.
“Absolutely no disrespect to my colleagues who voted against this bill, but I don’t believe they are looking at the big picture. I also would have liked to pass bigger spending cuts, but the fact is that Republicans only narrowly control one-third of this process. We may wish that we weren’t dealing with President Biden in the White House or a Democrat majority in the Senate, but that is our current reality, and this legislation is what we can get signed into law. Remember, the best way to get more spending cuts in the future is to elect a new president in 2024.
“I know there will be conservative opposition to my vote. And before anyone attacks my conservative credentials, remember that Members like Thomas Massie and Jim Jordan are also supporting this bill. Like me, these members realize that we cannot make perfect the enemy of good. I’d rather win by a field goal than not at all.
“This legislation is a great first step in returning to fiscal sanity, and I was proud to support it. But our work is far from done. After 15 years of Obama, Biden, and Pelosi enacted policies, it is going to take more than one bill to fix our debt crisis.
“The folks lamenting that this bill does not include enough of a check on spending need to watch how we appropriate the federal budget for Fiscal Year 2024. As a reminder, the Fiscal Year 2024 Appropriations process is completely controlled by House Republicans and is an important piece in how we limit spending going forward. And don’t forget, four seats on this committee were given to members of the Freedom Caucus as the result of the 2023 Speaker election.
“As an Appropriator in the House, I personally recognize the real work comes now and this bill is just the first step in what will be a long process of reigning in the out-of-control spending rubber-stamped by Democrats year after year. I am committed to reducing the national debt and putting us back on the path of fiscal responsibility.”
According to the non-partisan Congressional Budget Office, this bill will cut $2.1 trillion, the largest spending cut in American history.
The Fiscal Responsibility Act contains the following provisions:
- Cuts spending year-over-year, including a rollback of non-defense discretionary spending to FY22 levels – while fully funding the Veterans Administration’s medical programs.
- Limits topline federal spending to 1% annual growth for the next 6 years – a massive cut from the Biden budget proposal.
- Enacts work requirements for food stamps and welfare benefits.
- Enacts into law the first ever statutory Administrative Pay-Go to hold President Biden accountable for the full cost of executive rules and regulations.
- Claws back $28 billion in unobligated funding from over 120 different accounts created through COVID spending bills.
- Accelerates projects and cuts costs with the first significant reform to the National Environmental Policy Act (NEPA) since 1982.
- Rescinds the $1.4 billion Democrats and President Biden had planned to use for new tax enforcement agents at the IRS and sets the stage for additional recissions (up to $20 billion) for the IRS over the next two fiscal years.
- Requires borrowers to restart student loan repayments, saving taxpayers an estimated $5 billion per month.
- Ensures full funding for critical veterans' programs and national defense priorities, while preserving Social Security and Medicare.
- Rejects all of President Biden’s $5 trillion in proposed new taxes, new government mandates, and new federal programs.