To reduce spending and avoid default, the U.S. House of Representatives today approved the Budget Control Act (S. 627- as amended). Congressman Rob Bishop (UT-01) voted in support of this legislation, which would cut and cap spending immediately and save nearly a trillion dollars without raising taxes.
In addition to cutting more than $900 billion in spending, the bill guarantees that the House and Senate must vote on and pass a Balanced Budget Amendment before the debt limit can be fully increased. Congressman Bishop has been a consistent supporter of a Balanced Budget Amendment. The legislation creates a joint House and Senate committee to find at least an additional $1.6 trillion in savings. The work-product of this bipartisan, bicameral committee would be provided expedited consideration in the House and Senate and could not be filibustered.
In response to the passage of S. 627 in the House of Representatives, Congressman Bishop released the following statement:
"This legislation, while far from perfect, makes substantial cuts to spending over the next 10 years, caps spending levels and requires that a balanced budget amendment be passed. In addition, it ensures that the federal government is able to meet its financial commitments, avoiding a default. While this bill is different than the Cut, Cap and Balance Act, it includes the fundamental principles necessary to help get our country's fiscal house back in order.
"Last week I supported the Cut, Cap, and Balance proposal, which Senator Majority Leader Harry Reid said would never see a vote in the Senate. While I would still prefer that Cut, Cap, and Balance be the proposal considered by the Senate, and ultimately signed into law by the President, Democrats continue to block it from even being considered.
"The Republican proposal passed today is an honest, straightforward commitment to reduce spending and hold the line on new taxes and spending. While the President continues to insist that tax increases be a part of the final proposal that reaches his desk, he has failed to convince even his own party that tax increases are a good idea. In a perfect world, this bill would include deeper cuts to spending and go even further to create stricter accountability on spending caps. It's not enough yet, but I will work to ensure that we cut and cap as much and as frequently as we can. We didn't get into this mess overnight, and it's simply unrealistic to think that we can fix the problem with just one bill. However, we are making real progress and this proposal helps set us on the path to real reform.
"The fact that President Obama, Senator Reid, and every single Democrat in the House oppose this legislation is evidence that it's likely a step in the right direction."