Stopping Out-of-Control Government Spending

Since President Biden took office, the deficit has grown by $6 trillion, putting our national debt at a disastrous $31 trillion. For every 100 dollars we're taking in, Washington spends 129 dollars – this spending is unsustainable, and hardworking Americans are paying the price with record inflation, supply chain shortages, banking instability, and rising interest rates.

House Republicans have been trying to work on a responsible solution to avoid default while reining in the wasteful spending that got us into this situation in the first place with President Biden since Speaker McCarthy called for negotiations to begin on January 12; but for months, the President stalled and ignored his duty.
We didn’t let that stop us from stepping up and doing what was right for the American people – House Republicans passed the Limit, Save, Grow Act on April 26, taking action to avoid default by limiting government spending while growing the economy. In fact, the Republican House was the only body to take action to stop our country from defaulting. President Biden and Senate Democrats did nothing.

After 97 days of refusing to negotiate and putting our nation on the brink of default, President Biden finally agreed to come to the table, where House Republicans negotiated aggressively to get the best deal possible for hardworking Americans.
The new agreement would:

• Shut down Biden’s COVID-19 slush funds
• Cut out-of-control spending that is fueling inflation
• Eliminate $1.4 billion meant to be used to hire Biden’s new army of IRS agents
• Enact consequential work requirements for welfare recipients

H.R. 3746, the Fiscal Responsibility Act of 2023, introduced by Rep. Patrick McHenry, makes vital and meaningful cuts to government spending, gets rid of red tape that’s limiting American growth, holds the executive branch accountable for its spending, and avoids default on our national debt.

House Republicans never stopped fighting to deliver a debt deal that raises the debt ceiling sensibly and means transformative change to how Washington operates, and that’s exactly what we’ve done.