SW Indiana News

WASHINGTON – On April 26, 2023, U.S. Representative Larry Bucshon, M.D. (R-Ind.-08) released the following statement after voting on H.R. 2811, the Limit, Save, Grow Act of 2023, which will responsibly raising the debt ceiling by limiting Washington’s irresponsible spending, saving taxpayer dollars, and growing the American economy.

 

“President Biden and Washington Democrats’ reckless spending binge over the past two years has resulted in the worst inflation in 40 years, rising interest rates, and an uncertain economy on the brink of recession. On April 26, 2023, hardworking Hoosiers are paying the price of these disastrous economic policies because their paychecks have effectively shrunk as the cost of living has skyrocketed. In the long-term, these policies have added trillions to what is an already unsustainable federal debt which, if left unchecked, will leave our children and grandchildren a legacy of debt and a future of limited economic opportunity and freedom.  

 

“The Limit, Save, Grow Act is an important first step in ensuring that hard-working Americans aren’t forced to continue paying the price of the failed economic policies of the Biden Administration and Democrats in Congress. This commonsense legislation responsibly raises our nation’s debt ceiling by putting in place spending reforms that will help curb Washington’s spending addiction, unleash our economy, and once again get the paychecks of Hoosiers on Main Street growing again instead of the federal budget in Washington. I am proud to support this commonsense bill that will allow the United States to meet its obligations while rolling back wasteful spending and getting America back on track,” said Dr. Bucshon.

 

Key Highlights from the Bill: 

 

• Responsibly lift the debt limit by $1.5 trillion, or through March 31, 2024, whichever comes sooner. 
• Cap FY24 spending at FY22 levels and limit the annual growth of discretionary spending to 1%.
• Save American taxpayers $4.8 trillion through 2033. 
• Repeal many of Congressional Democrats’ Green New Deal energy tax credits.
• Recover unspent COVID funding.
• Implement H.R. 1, the Lower Energy Costs Act. 
• Rescind the funding for President Biden’s 87,000 new IRS agents. 
• Raise the age-related exemption from work requirements for able bodied recipients to 55 from 49.
• Stop President Biden’s student loan giveaway that makes the 87% of Americans without student loans pay for those who do.
• Implement the REINS Act to require Congressional approval on rulemakings with a price tag of more than $100 million.

Original source can be found here.