House Budget Committee Ranking Member Jason Smith delivered the following floor remarks on Democrats’ planned debt limit increase:
For months, Democrats have been pursuing a radical partisan agenda that will pile on trillions more in debt – and they want Republicans to basically help them get the loan.
They are pushing the most expensive piece of legislation in our nation’s history alongside historic tax increases. And yet Democrats are demanding we hold the door for them as they ram through that partisan agenda which is all about giving Washington more power.
The debt limit is a chance for Congress to address government spending, something we have done since 1985.
Sadly, today, the Democrat majority is playing chicken with a government shutdown by tying the debt ceiling to a CR so they can enact their multi-trillion-dollar partisan tax and spending spree – which currently clocks in at $4.3 trillion – no matter the harm it will do; no matter how it will fuel more inflation that is crippling family budgets.
Budget Republicans sent a letter to Congressional leaders back in July outlining over half a dozen approaches Congress has taken in the past to address government spending with a debt limit increase.
But they have ignored our suggestions, because the fact of the matter is my colleagues have one goal in mind – an agenda of more spending, more debt, and more taxes.
Democrats control the White House, the Senate, and the House. If they want to spend trillions and raise taxes, they have the votes to raise the debt limit.
But Republicans will not co-sign a loan for the Democrats’ reckless agenda that harms working families, fuels more record inflation, and rewards their political allies and donors.