Press Releases

The U.S. House tonight passed with bipartisan support an historic plan to address the debt ceiling and out-of-control government spending. U.S. Rep. Bill Huizenga, MI-02, is an original co-sponsor of the Cut, Cap and Balance Act, which passed 234-190.

“In this economy, with this unemployment rate, more out-of-control spending is not the answer. It hasn’t been, and debt spending is how we got into this mess. It’s why the American people overwhelmingly voted this freshman class into office: to change to the culture of spending in Washington. There’s no better way to make that message permanent than to pass a Constitutional amendment requiring a balanced budget. Contrary to what the President has said, we are willing to compromise on that important point: that’s why we’re talking today about raising the debt ceiling at all, and that’s why we came out with this plan. We’re willing to compromise on that to get the American people the spending cuts they sent us here to achieve, and to help start to put this nation back on a path to fiscal sanity. We’re still waiting to see on paper what the President's plan is,” Huizenga said.

The Cut, Cap, and Balance Act, would cut $111 billion in spending in FY 2012, cap total federal spending and return it by 2017 to average spending levels over the last 30 years of below 20 percent of GDP, and it also requires Congress pass a Balanced Budget Amendment to the Constitution on to the states before voting to raise the nation’s debt limit.

This House Republican plan ensures seniors and veterans are protected, as it only cuts non-veteran, non-Medicare, and non-Social Security spending.

The details of the bill include:

CUT

Cuts total spending by $111 billion in FY 2012.  The savings is divided as follows:

•  Reduce non-security discretionary spending below 2008 levels, which saves $76 billion.
•  $35 billion cut to non-veterans, non-Medicare, non-Social Security mandatory spending.
•   Defense budget at President’s level.

 

CAP

Total federal spending is scaled back based on the glide path for the fiscal years below:

•  2012, 22.5% of GDP.
•  2013, 21.7% of GDP.
•  2014, 20.8% of GDP.
•  2015, 20.2% of GDP.
•   2016, 20.2% of GDP.
•   2017, 20.0% of GDP.
•  2018, 19.7% of GDP.
•   2019, 19.9% of GDP.
•   2020, 19.9% of GDP.
•   2021, 19.9% of GDP.

 

BALANCE

Requires the passage of a Balanced Budget Amendment before raising the nation’s debt limit.

 

DEBT CEILING INCREASE CONTINGENT ON BBA

Provides for the President’s request for a debt ceiling increase  – of less than the spending cuts in this bill -   if a qualifying Balanced Budget Amendment passes Congress and is sent to the states for ratification to the U.S.

 

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