Shuster Votes to End Debt Crisis, Cut SpendingFriday July 29, 2011
Washington, DC – Congressman Bill Shuster today voted in favor of the Budget Control Act; legislation to prevent a default on our national debt, cut spending and change the way Washington spends taxpayers' money.
“Throughout the debate on the debt, I have held fast to the principles expressed by the American people. First, that Congress must cut spending more than we increase the debt limit; second, there should be no new taxes; and third that the House should pass a balanced budget amendment to the Constitution,” Shuster said.
Last week, the House passed the Cut, Cap and Balance Act that held to these principles by cutting real spending by $5.8 trillion over the next ten years. The Senate and President Obama answered by rejecting this legislation without offering a plan of their own.
Today, in another demonstration of leadership, the House passed the Budget Control Act. This legislation would tie a short-term $900 billion increase to our debt limit to real cuts in spending totaling $917 billion.
In addition, the Budget Control Act creates a Joint Committee of Congress that is required to report legislation that would produce a proposal to reduce the deficit by at least $1.8 trillion over 10 years. Tied to this is a requirement that a balanced budget amendment must be sent to the states for ratification. If the proposal is enacted and a balanced budget amendment is sent to the states, then and only then would the President be authorized to request a debt limit increase of $1.6 trillion. This brings the total deficit reduction in the Budget Control Act to a total of $2.8 trillion.
“The House has acted to address our debt crisis. With today’s vote, the House will have sent the Senate and President Obama not one, but two responsible solutions to the debt crisis,” Shuster added.
“It is now up to the Senate and President to act. The House has done its job by giving the President and the Senate the tools to end the debt crisis today. I call on the Senate to approve the Budget Control Act and send it to the President for his signature.”