WASHINGTON, D.C. – Rep. Dan Newhouse (R-WA) voted for the Fiscal Responsibility Act, a historic piece of legislation that will restore fiscal sanity, hold Washington D.C. accountable, rein in government overreach, limit inflationary spending, and lift Americans out of poverty.
“America has a spending addiction. Our national debt is over $31 trillion, and a child born in America today would inherit $4.5 million over their lifetime. For far too long, out-of-control inflationary spending has driven record-high inflation, forced small businesses to shut down, and is continuing to mortgage our children’s futures. The fiscal insanity must come to an end, and this legislation is a historic step in the right direction,” said Rep. Newhouse.
Rep. Newhouse continued: “Today, I voted Yes on this legislation because it would lead to the largest spending cut in American history, reducing our deficit by $2.1 trillion. This bill has the potential to put our fiscal house in order, create a smaller government, fight inflation, lower taxes for hardworking Americans, and shift our country back to common sense and conservatism—all while protecting our seniors, veterans, and national security. From cutting spending and taxes, to ensuring full funding for critical veterans’ programs, and enacting work requirements for able-bodied adults—this is a strong bill that can make Congress work again for the people of Central Washington. I remain committed to reducing our national debt, curbing inflation, securing our southern border, and fighting for freedom.”
Read the full text of the bill here.
Background:
The Fiscal Responsibility Act is a historic win for House Republicans that will do the following:
- Cut spending year-over-year, including a rollback of non-defense discretionary spending to FY22 Levels; fully fund VA medical.
- Limit topline federal spending to 1% annual growth for the next 6 years.
- Enact consequential reforms to SNAP and TANF to save taxpayer dollars, get Americans back to work, and grow the economy.
- Slash $400 million from the CDC “Global Health Fund” that sends taxpayer money to China and billions in other programs for the largest total rescission package in history.
- Enact into law the first-ever statutory Administrative Pay-Go to hold President Biden accountable for the full cost of executive rules and regulations, which should save taxpayers trillions.
- Accelerate projects and cut costs with the first significant reform to NEPA since 1982.
- Nix the total FY23 staffing funding request for new IRS agents.
- Require borrowers to be responsible for paying off their student loan debts, saving taxpayers an estimated $5 billion per month.
- Compel a functioning appropriations process by imposing a temporary 99% CR-level cap until all 12 appropriations bills are enacted.
- Ensure full funding for critical veterans programs and national defense priorities, while preserving Social Security and Medicare.
- Reject all of President Biden’s $5 trillion in proposed new tax increases, new government mandates, and new federal programs.
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