Here’s a recap of what Republicans achieved on the House Floor this week:

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.

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.

“This is the most conservative spending package during my time in Congress and I was proud to support it on the House floor,” said Chairman Patrick McHenry. “The Fiscal Responsibility Act is the largest deficit-reduction bill in at least a decade and will fundamentally change the spending trajectory in Washington.
 
“For the first time in a debt-limit negotiation, the U.S. government will spend less money than it did the year before. We achieved historic spending cuts that will help bring down inflation, consequential reforms to help Americans get out of poverty and back into the workforce, claw backs of billions of dollars of COVID money, and transformational permitting reforms that cut red tape for energy and infrastructure projects. This bill will block the Administration from imposing new taxes during a time of economic uncertainty and rein in Biden’s executive overreach through a statutory administrative pay-go rule. This agreement will also change the way Washington operates by compelling a workable appropriations process.
 
“Throughout this process, it has been Speaker McCarthy and House Republicans leading. We passed a plan, and it was that plan and the Speaker’s leadership that enabled negotiations and this agreement.”

What Members Said:

House GOP Leadership released the following statement on passage of H.R. 3746, the Fiscal Responsibility Act: “I, Mr. Speaker, grew up on food stamps. And my mother, diagnosed with depression, would not have survived without that assistance. She was encouraged and worked hard and got on her feet and ultimately achieved independence. For the last 12 years, I've administered a social service agency in the state of New York. The Fiscal Responsibility Act takes important action not at all to punish our most vulnerable – in fact, takes real steps to ensure those most vulnerable among us are protected and served and have access to the support that they deserve. And by the way, find their way to work. This bill holds states like New York and others accountable – accountable for waiving restrictions, expanding access, not to help the most vulnerable, but to bloat and to grow and to increase state government," said Rep. Marc Molinaro.

"Because of action states have taken, the most vulnerable are left to fend for themselves, demoralized, dehumanized and felt worth less, while states like New York increase their infrastructure, their government and leverage federal taxpayer dollars not to benefit those who need the help the most, but to benefit state government. This bill starts a very important step of holding states accountable and assisting those who are most vulnerable among us."  
Rep. Laurel Lee highlighted how the Fiscal Responsibility Act is the largest deficit reduction bill in history.