Debt Ceiling
The House passed a Budget deal on October 28, 2015 that, among other things, will extends the government’s borrowing authority through mid-March 2017. In 2013, the Republican-controlled House and the Democrat-controlled Senate negotiated with the White House on three fiscal matters with looming deadlines: raising the debt ceiling now approaching the limit $16.5T, massive federal spending cuts known as sequester and a budget resolution. On February 4th, the President signed a bill into law extending the debt limit debate until 5/18/13. This date may also get extended as far as August due to financial manipulations similar to those used in 2011. The "No Budget, No Pay Act of 2013" also mandates that pay for lawmakers be held in escrow starting April 16 until their chamber has passed a 2014 budget resolution. Congress must pass a spending bill, called a continuing resolution or “CR,” which would continue spending after Sept. 30, 2013, the end of the 2013 fiscal year. As it stands now, the government’s legal authority to borrow more money runs out in mid-October, 2013. According to the Bipartisan Policy Center, if that date arrived on October 18, the Treasury “would be about $106 billion short of paying all bills owed between October 18 and November 15. The congressionally mandated limit on federal borrowing is currently set at $16.7 trillion. The debt limit has been raised 13 times since 2001 and has grown from about 55 percent of Gross Domestic Product in 2001 to 102 percent of GDP last year. The hoped for legislation will raise the debt ceiling through Dec. 31, 2014.

The issues Congress needs to keep front and center

from Heritage Action,
Members of Congress ... will return to Washington on Tuesday, for three more weeks of legislating before their Christmas break. Here are the issues we need to keep front and center in their minds: Stop The Spend Trend In just over three and a half years, the federal government has added over $9 trillion in debt: a record rate of spending. This spending causes inflationary pressures that eat away at the fruits of our labor and threaten our economic stability. In August, the credit rating agency Fitch downgraded the U.S. credit rating, and last week Moody’s did the same thing. This problem will only get worse unless Congress stops the spend trend! Year after year, Congress has demonstrated that following a broken process will lead to broken results. The message from America should be clear: No more continuing resolutions, no more omnibuses, no more minibuses! For the sake of posterity, it is time for Congress to draw a line in the sand and reduce the current spending trajectory. Heritage Action’s toolkit outlines everything you need to know about the path toward fiscal sanity. H.R. 2 - The Only Border Solution In Fiscal Year 2020, U.S. border patrol encountered 405,036 illegal immigrants crossing the southern border. After three years of Biden’s open border policies, there were 2,465,669 illegal crossings in 2023. The House has taken action and passed the Secure the Border Act (H.R. 2), a comprehensive solution that:
  • Ends asylum fraud
  • Ends “catch and release”
  • Finishes the border wall
  • Increases Border Patrol resources and closes immigration loopholes
  • Mandates E-verify to ensure legal employment
But Senate Democrats refuse to vote on the House’s bill. However, public pressure is forcing the Senate to put forward their own “border proposal,” but it’s simply more money for the same failed policies. A side-by-side comparison makes it clear: The House-passed “Secure the Border Act” (H.R. 2) is the only real solution to the border crisis. More than money, border security and law enforcement agencies need to be allowed to do their jobs. H.R. 2 would close the loopholes and give them the tools they need to keep our border secure. Ukraine: Accountability for Spending President Biden is again requesting tens of billions more for Ukraine, and there are numerous problems with his latest request: As with all his previous spending in Ukraine, there is inadequate oversight and accountability for how this latest request for money would be spent. The Biden administration is still dodging valid concerns from the American people. No clear plan or timeline for success has been articulated. His latest request ties Ukraine spending to aid for Israel. But these are separate issues and deserve separate consideration (i.e., separate votes). Aid money to Israel should not be held hostage. Past Ukraine spending has gone beyond military and humanitarian needs, and Biden’s latest request continues to pay for things like the salaries of Ukrainian government employees. Heritage Action’s newest toolkit spells out all you need to know about Biden’s supplemental request and what the right path forward is. More From Heritage Action:

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