Legislation Makes Necessary Spending Cuts Now, Provides Framework for Future Spending Reductions
Aug 01 2011
House Appropriations Chairman Hal Rogers has released the following statement on the expected vote tonight on legislation to end the debt ceiling crisis. The legislation makes an initial reduction of over $900 billion in discretionary spending over ten years, requires Congress to find additional savings of over $1.5 trillion, and puts in motion a balanced budget amendment to help rein in the nation’s debt and encourage economic growth.
“This bill makes a large down payment on our nation’s financial future, cutting more than $900 billion over the next decade to help get our budgets back into balance. This bipartisan compromise will help us change the nation’s spending trajectory toward greater fiscal responsibility, and I praise Speaker Boehner for his commitment to securing the best deal possible for American taxpayers.
“As the Speaker has said, this bill is not perfect. Tough choices will have to be made, particularly when it comes to defense and national security priorities, but shared sacrifice will bring shared results. This bill will make necessary spending cuts now and provide a framework for future reductions that will bring common sense into federal budgeting, provide stability and certainty in our marketplace, and allow Main Street businesses to create jobs and build a stronger economy.
“The Appropriations Committee has already started making tough decisions on spending, and will continue under the spending limits and guidelines provided in this bill. So far this year, the Committee has trimmed billions of dollars and imposed strict spending reductions so we don’t leave our children with mountains of debt. We will continue to work in this vein, in a bipartisan and bicameral manner, to complete our Appropriations work and pass responsible, sustainable, and timely funding legislation.
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Contact: House Appropriations Communications Director, Jennifer Hing at firstname.lastname@example.org