Tonight, Congressman Michael C. Burgess, M.D. (TX-26), voted in favor of the Cut, Cap, and Balance Act, H.R. 2560. The legislation is aimed at cutting discretionary and mandatory spending, capping federal spending at the 2012 level for the next ten years, and qualifying a debt ceiling increase Balanced Budget Amendment.
"This Congress was elected to bring fiscal sanity to Washington. The number one problem right now is that Congress is writing post-dated checks on an overdrawn account," said Dr. Burgess. "America is on a path of fiscal destruction - one that may threaten the very fabric of our republic. We cannot allow America to continue on this path, and Cap, Cut, and Balance moves America in the right direction on spending."
Cap, Cut, and Balance will not cap spending for veterans, Social Security or Medicare, but it will save $5.8 trillion over ten years by placing spending limits with sequestration procedures. These imitations would exempt payment for military personnel accounts, military retirement, TRICARE for Life, veterans spending, net interest, Medicare, and Social Security.
"It is important that we take care of those who have given so much," said Dr. Burgess. "Funding for our military, and for this country's obligations to our veterans, is a commitment which must be kept. In addition, we must ensure that those who have spent the majority of their lives paying into Social Security should receive what they have been promised."
One of the main sections of the legislation will require that a Balanced Budget Amendment be passed first before the debt ceiling is increased. The amendment will also require that a super-majority vote be met for Congress to increase taxes, and there must be a total limit on federal spending.
"Families across this nation are cutting their spending at home, and Washington must do the same," said Dr. Burgess. "America can't afford more spending and more debt while not seeing growth. America needs more jobs. We need to quit spending money we do not have and we need to put people back to work. Dealing with these important issues will allow America to do what we've always done best: create, innovate, and lead. Cap, Cut, and Balance puts us in the right direction."
The legislation passed by a vote of 234 to 190. It will now move to the Senate for debate.