Fiscal Responsibility
Over the years, Democrats have shown our commitment to restoring fiscal responsibility by taking actions that have reduced our national deficit while investing in the American people’s priorities. During the 117th Congress, House Democrats delivered the landmark Inflation Reduction Act, which will reduce the deficit by over $300 billion while lowering health care and energy costs and taking action on climate change. In sharp contrast, Republicans jammed their 2017 Trump Tax Scam through Congress without a single hearing, gifting trillions of dollars in unpaid-for tax handouts to the wealthiest Americans and large corporations while leaving our nation with ballooning deficits. They have repeatedly held our economy hostage to benefit their irresponsible ideological agenda, whether creating artificial “fiscal cliffs,” shutting down the government, or bringing our nation to the brink of defaulting on its obligations. With other landmark legislation delivered during the 117th Congress, including the American Rescue Plan, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, Democrats have worked to invest in economic recovery, job creation, all while cutting the deficit in half last year. Democrats are committed to continuing our work to restore sound, long-term fiscal management so future generations can afford to invest in opportunities, secure the American Dream, and ensure workers have the tools to Make It In America.
"Ladies and Gentlemen of this House, there are 435 of us that have been asked by our fellow citizens to come to Washington, D.C., to have the extraordinary privilege of sitting on this Floor and making, they hope, responsible decisions for their country. I regret that the House is not full at this point in time.
As Republican dysfunction reaches new lows, the GOP strategy of holding hostage both government funding and the full faith and credit of the United States have been criticized by economists, the American people, and now one of their greatest allies, Wall Street. From Politico:
With a government shutdown still hanging in the balance, House Republicans are already making their threats on the next fight: holding the debt limit hostage in order to defund or undermine Obamacare.
“Thank you very much Congressman Welch for your leadership and tenacity on this issue. Peter Welch has been raising his voice and the voice of others for years now on behalf of fiscal responsibility.
With time running out to keep the government funded past October 1, House Republicans continue to threaten a government shutdown over their attempts to undermine the Affordable Care Act.
“Madam Speaker, today we are considering a measure to fund government only if the Democratic Senate and the Democratic President will agree to dismantle the health care reform law that will help millions of Americans access quality, affordable care. That isn’t going to happen, and it is a blatant act of hostage-taking.
In response to last week’s continuing resolution that was pulled from the legislative agenda after the Republican leadership failed to gain enough votes from their most conservative faction, GOP leaders decided to move further to the right in pursuit of an even more reckless and partisan bill.
“I am deeply disappointed that Republicans continue to risk a government shutdown by appealing to the most extreme members of their party through a continuing resolution that has no chance of passing the Senate or being signed by the President.
Republicans continue to surprise us with their dedication to risking a government shutdown and holding our economy hostage, rather than compromising and getting something done.
Here’s their plan for government funding, described by POLITICO – and why it won’t work:
“This morning’s report by the nonpartisan Congressional Budget Office reaffirms what most economists already know: our long-term budget picture is not sustainable, which is why we need to build on the deficit reduction we have already achieved, and revenue must have a place in any successful solution to bring our deficits down over the long term.