Limit, Save, Grow Act of 2023

Floor Speech

Date: April 26, 2023
Location: Washington, DC


Mr. PANETTA. Mr. Speaker, I rise in opposition to the Limit, Save, and Grow Act.

As a member of the Ways and Means Committee and Budget Committee, as much as I want to take serious steps to lower our debt and deficit, this legislation is not serious, it is not bipartisan, and it leaves us with a partisan hit list.

I say that because of the way it is written. It would increase hunger and deprive low-income citizens of healthcare. It would make significant cuts to critical government services that could lead to the loss of 780,000 jobs. It would cut IRS funding needed to close the tax gap and collect taxes owed. It would do nothing to raise revenues, and it would do nothing to find common ground on permitting reform. It would target the cornerstone of the industrial policy that we created last term to lower our carbon output by repealing clean energy tax credits.

Solutions to the debt crisis need to be serious, not partisan. This bill brings us closer to default by demanding partisan policies that will never pass the Senate.

I will vote ``no'' on this bill, but I do look forward to raising the debt ceiling and then having serious conversations about how we can ensure that Congress gets serious about a solution to our debt and deficit reduction.