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House Approves Debt Ceiling Increase with Historic Course Change in Federal Fiscal Policy

Statement

By:
Date:
Location: Washington, DC

Congressman John Carter (R-TX31) tonight voted to pass the Budget Control Act, after final Congressional Budget Office scoring showed the bill cut spending more than the increase in the debt limit.

"This bill did not cut spending as much as I wanted, and increased borrowing more than I wanted, but it accomplished the ultimate goal that we needed for our country on this issue on this day," says Carter. "For the first time in my adult life, we have changed the financial direction of our ship of state from automatic debt hikes with even greater deficit spending. Now we have guaranteed a fight to the mat over any future increases in spending and deficits. Since January of this year, we have accomplished a complete turnaround from the unbridled spending and borrowing we inherited from the previous Congress."

The Budget Act cuts spending by $917 billion and allows a $900 billion debt limit increase, while allowing another $1.2 trillion increase if a higher spending cut is enacted or a Balanced Budget Amendment is passed by the House and Senate and forwarded to the states for ratification, bringing Washington's deficit spending to a permanent halt. The bill contains no tax increases.


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