House Members Put forward $1 Trillion in Cuts

House Republicans Propose 507 Bills to Cut Spending by $1 TRILLION per year for Three Years! Now that is the leadership we need! Let's do it!

By Savannah Hulsey Pointer, The Epoch Times, March 28, 2023

Half a dozen Republican representatives held a press conference on March 28 about the issue of raising the debt ceiling and announced 507 bills to cut more than $1 trillion in government spending.

Reps. Andy Biggs (R-Ariz.), Matt Rosendale (R-Mont.), Eli Crane (R-Ariz.), Bob Good (R-Va.), Matt Gaetz (R-Fla.), and Ralph Norman (R-S.C.) expressed their concerns about the nation’s increasing debt and weakened fiscal situation, as well as the inflation and worsening economic conditions caused by the $31.4 trillion national debt that is growing at a rate of $100 billion each month.

The package of more than 500 bills, which are slated to be introduced by the Republicans, all request cuts in discretionary and nondefense spending.

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During the announcement of the bills, the group highlighted the potential savings of the House Freedom Caucus (HFC) plan, including hundreds of billions of dollars in “clawbacks” from agencies such as the IRS and special projects such as the Green New Deal.

The total savings of the HFC budget plan were reported to be $3 trillion over three years. The representatives argued that there were still opportunities to avoid raising the debt ceiling by implementing saving measures and by reallocating unused COVID money still held by the states to be put toward federal money promised.

The group proposed more than 500 pieces of legislation that could reduce spending, causing net reduction or reduction in acceleration in national debt, which is currently projected to increase by tens of trillions over the next few years.

The Republicans’ proposal is in response to President Joe Biden’s budget, which Congressional Democrats have touted as the way to avoid an economic crisis if the United States defaults on its debt.

Democrats Call for Raising Debt Limit

Senate Majority Leader Chuck Schumer (D-N.Y.) and House Minority Leader Hakeem Jeffries (D-N.Y.), said during a March 23 press conference that the Republican Party’s stance on the debt limit could have severe consequences for American families and the broader economy.

The possible fallout cited by lawmakers included but was not limited to the loss of retirement savings, seniors’ interruption of Social Security benefits, a global financial crisis possibly as bad as 2008, doubling unemployment, a steep decline in gross domestic product, crashing markets, and worldwide recession.

“It’s time for the extreme MAGA Republicans … to come together with everyone else … to do what’s necessary to raise the debt ceiling,” Jeffries said. “And then let’s sit down and have a conversation about the future and investments that need to be made on behalf of the American people.”

McCarthy Sees ‘Dire Ramifications’ for US If Biden Won’t Negotiate on Debt Ceiling

Speaker of the House Kevin McCarthy (R-Calif.) warned in a March 28 letter that there could be “dire ramifications” for “the entire nation” if President Joe Biden refuses to negotiate with Republicans on the debt ceiling.

Biden has taken a hard line on the debt ceiling since Republicans took the House, suggesting that he will not allow Republicans to use the issue to force compromises. Republicans, on the other hand, hope to use the issue to force Biden to give concessions and reduce federal spending.

Two months ago, at the start of the 118th Congress, Biden nevertheless indicated a willingness to meet with McCarthy to discuss the dispute. This public willingness to talk, McCarthy said, has not translated to negotiations between the two leaders.

“Since that time, however, you and your team have been completely missing in action on any meaningful follow-up to this rapidly approaching deadline,” McCarthy said in his letter to the president.

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By Biden’s refusal to meet with him, the speaker said, “[Y]ou are putting an already fragile economy in jeopardy by insisting upon your extreme position of refusing to negotiate any meaningful changes to out-of-control government spending alongside an increase of the debt limit.”

Since taking office, Biden has signed off on trillions in spending, including the $1.9 trillion American Rescue Plan, the $1.2 trillion Infrastructure Investment and Jobs Act, the $745 billion Inflation Reduction Act and, most recently, a $1.7 trillion omnibus package rushed through Congress at the end of the last Congress.

Republicans have long blamed this spending for the rise in consumer prices, and have said since the 117th Congress that cutting spending would be a top priority for the party if they took the House.

McCarthy told Biden that if he continues to refuse to negotiate, any debt ceiling crisis would be his fault.

“Your position—if maintained—could prevent America from meeting its obligations and hold dire ramifications for the entire nation,” McCarthy wrote.



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