Senate Passes Fiscal Responsibility Act
WASHINGTON – U.S. Senator Kevin Cramer, R-ND, member of the Banking Committee, issued the following statement after voting for the bipartisan Fiscal Responsibility Act, a bill to suspend the debt limit until January 1, 2025, while cutting discretionary spending and enacting substantive permitting reforms:
“As our country’s national debt approaches nearly $32 trillion, North Dakotans want a change from the Democrats’ reckless spending. This bill is a step in the right direction by restoring regular order to the appropriations process, providing transparency, clawing back unspent COVID money, ending the President’s deferral of student loan payments, and implementing substantive permitting reforms.
“Failure to raise the debt limit would force the United States’ first-ever default, rattle markets, and delay pay and benefits for our military, veterans, and seniors. Default is not an option, but neither is a blank check. This strikes the right balance, and I commend Speaker McCarthy for the cuts and reforms he achieved. Now it is time for Congress to build on this momentum by getting back to regular order, funding our national defense, and governing responsibly.”