November 30, 2023
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  • ICYMI: Bipartisan Voices for a Fiscal Commission

    This week, the House Budget Committee held a hearing evaluating several legislative proposals to create a fiscal commission to address our nation’s unprecedented economic challenges. The hearing brought together sponsors of both House and Senate bills, platforming bipartisan, bicameral perspectives. 

    Word on the Street:

    Chairman Jodey Arrington (R-TX) delivered opening remarks stating that the debt is the greatest challenge facing our nation. The Chairman called for bipartisan support for the debt crisis that will require courageous leadership and a strong sense of urgency moving forward.

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    Click HERE to read the Chairman’s Opening Statements 

    Congressman Lloyd Smucker (R-PA) stated that he believes establishing a fiscal commission is the best way to address our existential debt, and shared personal experience with a highly successful commission in Pennsylvania. 

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    Senator Mitt Romney (R-UT) highlighted how out out of control interest spending on the debt is posing a threat to our national security and prosperity. 

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    The Big Picture:

    The United States is currently facing nearly $34 trillion in national debt and counting. Our federal budget deficit has never been higher in a time of peace. As shown by our expert panel, many members of congress are rightfully concerned about the deficit growing out of control

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    The House Budget Committee is determined to change Washington’s broken budget process and will continue to garner support from Republicans and Democrats alike to tackle this dire cause.

    The Bottom Line:

    As Chairman Arrington said in his opening remarks

    “If we don’t have this sense of urgency, if we don’t have a plan, and if we don’t exercise the political courage to execute that plan – we will be the first generation of leaders to fail to leave this country better than we found it for our children. Let’s be clear: this isn’t a Republican problem or Democrat problem – it’s America’s problem, and it’s a mathematic reality that will require real leadership from both sides of the aisle before it’s too late.” 

    The House Budget Committee will continue to work to find bipartisan consensus to restore fiscal sanity back to Washington and reverse the curse of our colossal federal debt—including by working to empower a fiscal commission. 

    Click HERE to watch the full hearing.