Cut, Cap and Balance Act to be voted on today
Washington, DC– Congresswoman Kay Granger (TX-12) issued the following statement as the House of Representatives plans to consider the Cut, Cap, and Balance Act today.
“The debt-ceiling fight we are going through with the President should not be a temporary fix for our fiscal problems. Our national debt is nearly $14.3 trillion – higher than at any time in American history and 95 percent of our entire economy. Right now is a rare opportunity for Congress and the President to come together and create a serious, long-term solution to both our national debt and our spending problem.
“Without an agreement before August 2nd we will have serious obligations the U.S. Treasury will not be able to pay. Republicans have a plan that will immediately cut spending by $111 billion, cap spending for the future, and prohibit any additional vote on raising the debt ceiling again before a Balanced Budget Amendment to the Constitution is sent to all of the states for ratification.
“The President has rejected every serious solution without tax increases without offering his own proposal. Cut, Cap and Balance is exactly what we have to do to make sure that all of our financial obligations are met while creating a serious, long-term solution to get our country back on track.”