Fiscal Responsibility Act of 2023

Floor Speech

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Mr. PANETTA. Mr. Speaker, I support the bipartisan budget agreement to raise the debt ceiling because if we don't, we will devastate the global markets and undermine the faith of the world's most important financial system, the United States of America.

I support a clean raising of the debt ceiling, but elections have consequences. My colleagues on the other side wanted to use their leverage for concessions. In a divided government, governing means compromise, and it gets us this bill, legislation that would: one, raise the debt ceiling until 2025; two, stop the drastic cuts desired by the Republicans and protect Social Security, Medicare, and Medicaid.

Although it limits SNAP for certain ages, it expands those types of benefits for veterans and our homeless.

Finally, we protect the historic legislation we passed last Congress to invest in our infrastructure and manufacturing, reduce drug costs, and care for veterans. Part of this bill even furthers our transition to clean energy.

I will vote for this bill, but we have a lot more to do if we want to get serious about reducing our debt and deficit. That only begins when we stop governing by crisis and start governing by leadership.

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