Jul 26, 2024
Press
House Passes the Budget Deficit Act to Reduce the Size and Scope of the Federal Government
(Washington, D.C.) Congresswoman Cathy McMorris (WA-05) today voted for the Budget Deficit Act. The legislation will reduce the deficit by $50 billion over five years.
“One of my top priorities is to promote economic growth, yet this can only happen if we get spending under control,” said McMorris. “I am committed to reducing the deficit and restoring fiscal responsibility. The legislation passed today saves money by slowing the rate of growth for a variety of programs. It is necessary that we make commonsense reforms and restructure programs in such a way that benefits are actually going to those in our society who are the most vulnerable. The people deserve to know that their tax dollars are being spent wisely and we must address our current financial situation before it turns into a crisis for future generations.”
In the past 15 years, Congress has passed three other budget reconciliation bills. In 1990, the bill reduced the deficit by $324 billion over five years, in 1993 by $192 billion, and in 1997 by $152 billions.
The Deficit Reduction Act contains provisions that trim the deficit and reform government by:
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Saving and strengthening Medicaid by adopting provisions offered by the bi-partisan National Governors Association;
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Reducing waste, fraud, and abuse;
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Rebuilding community first responder capabilities by freeing up vital spectrum airwaves;
Increasing heating assistance for low-income Americans by assuming a $1 billion (50% increase) in additional funding for the Low-Income Home Energy Assistance Program (LIHEAP); -
Expanding Welfare Reform by reauthorizing the successful welfare reform policies in TANF and providing an additional $1 billion in funding