The U.S. House of Representatives on Friday voted to save our country from defaulting on its obligations, reduce spending, and make the type of structural reforms necessary to right our fiscal ship. The Budget Control Act, would cut $917 billion in cuts over the next ten years in exchange for raising the debt ceiling by $900 billion, does not raise taxes, requires passage of a Balanced Budget Amendment in both houses before another debt limit increase is considered later this Congress, and establishes a Joint Committee of the House and Senate to achieve an additional $1.8 trillion in deficit reduction.
Congressman David B. McKinley, P.E. (R-WV) has been an outspoken advocate for the Cut, Cap, and Balance Act, and this legislation adheres to those principles.
"Speaker Boehner's plan isn't all of what I want, but it's the most responsible option that is still on the table," said McKinley. "I like that this plan lays out a clear vision to ensure spending cuts, reforms, and an open path to more cuts in the future. This legislation also offers a Balanced Budget Amendment which I have advocated for years. 49 states already have a Balanced Budget Amendment and this will give the states the opportunity to be heard and have a voice in the discussion. While I would have preferred Cut, Cap, and Balance, this legislation is the only option offered that has the chance of passing both the House and the Senate.
"Frankly, President Obama has failed to lead on this issue. The president refuses to offer a plan other than clean debt ceiling increase without spending cuts. I refuse to write this fiscally irresponsible president a blank check. We must ensure that Washington's elite does not continue to spend their way into mountains of debt. This legislation is a better plan than any other offer on the table right now."
After Friday's vote, Dan Danner, president of the National Federation of Independent Business said, "Small business owners know they will go out of business if they spend more than they take in, and expect the government to operate by the same common-sense principle. Washington has a spending problem, not a revenue problem. We at NFIB thank Congressman David McKinley for helping make the cuts necessary to start us on a path to get our fiscal house in order without raising taxes on America's job-creators."