Today, Americans for Tax Reform and its Center for Fiscal Accountability sent the following alert to the United States House of Representatives:
Americans for Tax Reform May Rate a Vote on the Budget Control Act of 2011
Americans for Tax Reform and its Center for Fiscal Accountability urge all Members of the United States House of Representatives to support the Budget Control Act of 2011. This deal to solve the debt limit debate represents a significant step towards lasting spending reform, and avoids a debt crisis without raising taxes.
The Budget Control Act will enact up-front savings of $917 billion while instituting caps to keep spending growth in check. The spending caps are enforced by sequesters, ensuring they cannot be exceeded. This signals a serious refutation of Washington’s spending habits, and lays the groundwork for permanent restraint in government spending.
The bill keeps the President’s aggressive spending agenda in check by establishing a two-step process to allow more borrowing authority. This requires a Joint Committee to enact at least $1.5 trillion in savings or a Balanced Budget Amendment to the Constitution be sent to the states before another debt limit hike is authorized. If either of these initiatives fail, an across-the-board sequester will be enacted equal to the amount of borrowing authority the President is able to request. This ensures another debt limit hike cannot occur absent significant spending reform.
Lawmakers serious about getting the country’s fiscal house in order should support the debt limit solution before them and vote yes on the Budget Control Act of 2011. By keeping taxes off the table in the debt limit debate, this proposal rightly focuses on government overspending and sets the stage for lasting fiscal reform.
Americans for Tax Reform MAY RATE a vote on the Budget Control Act of 2011
Click here for the full alert.