By Congresswoman Stephanie Bice
Over the last two years, under the one-party Democratic rule, we have had record levels of spending with little offsets. Last Wednesday, House Republicans revealed our proposal, the Limit, Save, Grow, Act of 2023, to deal with the debt ceiling. The top priorities of this legislation are to limit Washington’s irresponsible spending, save taxpayers money, and grow the American economy. It is time for President Biden and Congressional Democrats to come forward and negotiate with House Republicans to address our national debt and struggling economy.
Led by Budget Chairman Jodey Arrington, this legislation would return discretionary spending to pre-inflationary, Fiscal Year 2022 levels and limit the growth of spending to one percent per year, saving taxpayers $4.5 trillion over the next 10 years. Our proposal also includes provisions from H.R. 1, which seek to restore American energy independence and ultimately lower prices for millions of American families. Cutting spending and increasing domestic production will ultimately lower inflationary pressures that have been negatively affecting our businesses and all Oklahomans.
Furthermore, our proposal also repeals Biden’s 87,000 IRS agents, protecting families and small businesses from a weaponized IRS. It seeks to make us less dependent on Communist China, and would prohibit Biden’s student loan giveaway, safeguarding the 87% of adults without student loans from paying for the 13% of individuals who do. This bill also recaptures unspent COVID funds, which will save American taxpayers approximately $50-60 billion. In addition, it repeals green new deal tax credits for corporations and wealthy Americans, generating hundreds of billions of dollars. These provisions will ultimately limit spending, save money, and grow our economy.
I also want to address the rumor that House Republicans are going to cut Social Security and Medicare benefits. Let me be clear, nothing in this legislation attacks these benefits. Instead, this legislation strengthens and preserves the Social Security and Medicare programs for the future.
The Limit, Save, Grow Act of 2023 is reasonable and responsible. It ensures that we will not default on our own financial obligations or jeopardize the global economy. However, Republicans cannot do this on our own. America is $31 trillion in debt, and collaborative efforts from the House, the Senate, and the White House are paramount. If not, Biden will be to blame for the first default in our nation’s history.
One-party rule in Washington is over and House Republicans continue to lead with this legislation. The White House always says, “show me your proposal and then we can negotiate.” Mr. President, it is time to come to the table and do so in good faith.
