Spanberger Calls for Transparent Budget, Urges Mindful Fiscal Policy that Recognizes National Debt’s Impact on U.S. Economic & National Security
Yesterday, the Congresswoman Voted Against Budget Legislation that Would Increase the U.S. National Debt by Nearly $2 Trillion & Slow Down Economic Growth
WASHINGTON, D.C. – U.S. Representative Abigail Spanberger today released the following statement after voting against a federal budget bill on the floor of the U.S. House.
“Yesterday, I voted against H.R. 3877, because it would add an estimated $1.5 to $2 trillion to our nation’s debt over the next 10 years. While our nation’s deficit and debt continue to mount—much in part due to the 2017 tax bill that substantially cut federal revenues and benefited large corporations to an outsized degree—I believe it is imperative that we, as a Congress and a country, commit to getting our financial house in order.
“We are currently responsible for the debt that will one day be our children’s and grandchildren’s to repay. In order to create opportunity and invest in policies that benefit the lives of Americans across our country, we need our nation’s fiscal health to be on stable ground. At a time when the economy is doing well, it is even more worrisome that we are increasing our deficit with no regard towards how to fix it.
“Congress has an obligation to take concrete steps to improve the handling of our budget. While we should always safeguard the full faith and credit of the United States, we must also work in a bipartisan way to pursue a clean debt ceiling bill, address the disparity between our revenues and spending as a proportion of our GDP, and build a pathway toward a balanced budget.”