The Execution of Spending Caps

WASHINGTON D.C. -  Today, House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement in response to the Congressional Budget Office (CBO)’s issuance of guidance on the implementation of the Fiscal Responsibility Act (FRA), specifically the execution of spending caps:

"Today, the Congressional Budget Office (CBO) sent a letter to House Budget Committee leadership providing clarity on how the spending caps included in the debt ceiling deal known as the Fiscal Responsibility Act (FRA) would be implemented in two possible government funding scenarios: a continuing resolution and full-year funding bill. 

With U.S. debt at a record $34 trillion, deficits of almost $2 trillion, and interest payments alone projected to be at $1 trillion next year, it is imperative that elected leaders on both sides of the aisle follow through on their commitment to rein-in spending.

The American people have had to tighten their belts and change their spending habits because of Democrats unprecedented $11 trillion in inflation-induced spending, and their government should do the same.”

Click HERE to read CBO’s letter to Chairman Arrington.