Washington, D.C. – Today, Speaker Kevin McCarthy (CA-20), Majority Leader Steve Scalise (LA-01), Majority Whip Tom Emmer (MN-06), Conference Chairwoman Elise Stefanik (NY-21), and House Budget Committee Chairman Jodey Arrington (TX-19) issued the following statement on the House GOP's plan to responsibly address the debt ceiling, the Limit, Save, Grow Act of 2023.
“The American people expect and deserve serious, sensible action to address our soaring national debt. Unfortunately, President Biden has avoided taking any action, even though he added $6 trillion to our nation’s debt burden in two years and caused historic inflation that continues to hurt families and small businesses. The President seems to have no interest in negotiating a responsible debt limit increase. What President Biden is demanding is irresponsible.
"President Biden’s reckless spending created record inflation, made us more dependent on China, and undermined Social Security and Medicare. We must address record spending now. If we don’t, America will be weaker and families will be worse off.
"Since President Biden continues to hide, House Republicans will take action.
"The Limit, Save, Grow Act will limit federal spending, save taxpayers trillions of dollars, grow our economy, and lift the debt limit into next year. This legislation will make us less dependent on the whims of the Chinese Communist Party and curb high inflation, all without touching Social Security or Medicare — because no one is hurt more by inflation than seniors.
"We owe it to the American people to save the economy, stand up for hardworking taxpayers, and return to a path to fiscal responsibility. President Biden has a choice: come to the table and stop playing partisan political games — or cover his ears, refuse to negotiate, and risk bumbling his way into the first default in our nation’s history.”