Debt Ceiling Debate – How to Cut Spending
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Washington’s spending addiction has continued for far too long, pushing the national debt limit to the max; the national debt has reached $31.4 trillion.
Heritage Action has been pushing hard for strong spending cuts and reforms and now, House Republicans have introduced a bill that would make significant progress in prioritizing fiscal sanity.
The Limit, Save, Grow Act would save an estimated $4.5 trillion over the next 10 years — a historic and commendable amount. This measure includes the recommendations of Heritage Action and grassroots conservatives to rein in the bureaucratic state and put the American economy on a path to recovery.
The Limit, Save, Grow Act includes provisions to:
- Cap overall federal spending at FY 2022 levels
- Institute annual limits on budget growth
- Repeal Biden’s student loan “forgiveness”
- Rescind unspent COVID-19 emergency response funding
- Repeal funding for the 87,000 new IRS agents who Democrats are trying to hire
It would also include numerous pro-growth policies including the deregulation of energy production in America, and restoring certain work requirements for SNAP welfare benefits.
Every day, the American people feel the pain of inflation and an economy on the brink of recession. The country needs bold and responsible action to recover. This package will put us on the right path.
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