Rep. Cathy McMorris Rodgers (R-WA), Vice Chair of the House Republican Conference, voted in favor of theBudget Control Act today. This bipartisan agreement -- supported by President Obama and the Congressional leadership of both parties -- would raise the debt ceiling, cut government spending, and advance the cause of the balanced budget amendment -- all without job-killing tax hikes.
"At this time last year, Congress was approving historic spending increases and record deficits. Now, with today's deal, Congress is passing historic spending cuts and record cuts to the national debt. Is this a "perfect deal?' As Speaker Boehner has said many times, "no.' It can't be perfect when House Republicans control only one-half of one-third of the government. But it's another big step forward in our efforts to bring fiscal sanity to our nation and to preserve the American Dream for our children and grandchildren."
The Budget Control Act raises the debt ceiling in two phases -- first by $900 billion in return for $917 billion in spending cuts over the next 10 years. An additional $1.5 trillion increase in the debt ceiling would be contingent on one of two things: One, passage of a spending reduction package issued by a special twelve-member Commission that would be set up by the bill and charged with making cuts greater than the requested increase of $1.5 trillion. Or two, passage of a balanced budget amendment by both Houses of Congress, sending it to the states. Otherwise, across-the-board cuts worth $1.2 trillion over the next decade will automatically take place along with the hike in the debt ceiling.