Arrington Introduces Republican's Responsible Debt Ceiling ProposalHouse Budget Committee Chairman Jodey Arrington (R-TX) released the following statement today after filing H.R. 2811, the "Limit, Save, Grow Act," which is the House Republican plan to responsibly address the debt ceiling.
"Over the last two years, the Biden Administration’s reckless spending and failed economic policies have resulted in record inflation, soaring interest rates, and an economy in a recessionary tailspin – with the prospect of a catastrophic debt crisis looming on the horizon.
"Unsurprisingly, this spending spree has sent us slamming up against the debt ceiling, which for 100 years has served as a check on our accumulating national debt and its impact on the financial health of our nation.
"Let me be clear: we will pay our creditors and protect the good faith and credit of the United States, but it would be irresponsible to raise the debt ceiling without commonsense spending controls.
"House Republicans have presented a debt ceiling proposal that will restore fiscal sanity in Washington before it’s too late.
"This plan limits federal spending by reining in and right-sizing the federal bureaucracy; saves taxpayer dollars by reversing some of the Democrats’ reckless spending; and grows the economy by returning to pro-growth, pro-work, pro-energy policies, unleashing American prosperity once again."