GOP Lawmakers Propose 500 Bills to Cut Spending, Avoid Debt Ceiling Increase

Rep. Andy Biggs (R-Ariz.) speaks at a House Judiciary Committee Subcommittee hearing “The Fentanyl Crisis in America: Inaction Is No Longer an Option” in Washington on March 1, 2023, in a still from video. House Judiciary Committee Youtube/Screenshot via NTD

Half a dozen Republican representatives held a press conference on March 28 about the issue of raising the debt ceiling and announced 507 bills to cut more than $1 trillion in government spending.

Reps. Andy Biggs (R-Ariz.), Matt Rosendale (R-Mont.), Eli Crane (R-Ariz.), Bob Good (R-Va.), Matt Gaetz (R-Fla.), and Ralph Norman (R-S.C.) expressed their concerns about the nation’s increasing debt and weakened fiscal situation, as well as the inflation and worsening economic conditions caused by the $31.4 trillion national debt that is growing at a rate of $100 billion each month.

The package of more than 500 bills, which are slated to be introduced by the Republicans, all request cuts in discretionary and nondefense spending.

During the announcement of the bills, the group highlighted the potential savings of the House Freedom Caucus (HFC) plan, including hundreds of billions of dollars in “clawbacks” from agencies such as the IRS and special projects such as the Green New Deal.

The total savings of the HFC budget plan were reported to be $3 trillion over three years. The representatives argued that there were still opportunities to avoid raising the debt ceiling by implementing saving measures and by reallocating unused COVID money still held by the states to be put toward federal money promised.

The group proposed more than 500 pieces of legislation that could reduce spending, causing net reduction or reduction in acceleration in national debt, which is currently projected to increase by tens of trillions over the next few years.

The Republicans’ proposal is in response to President Joe Biden’s budget, which Congressional Democrats have touted as the way to avoid an economic crisis if the United States defaults on its debt.

Democrats Call for Raising Debt Limit

Senate Majority Leader Chuck Schumer (D-N.Y.) and House Minority Leader Hakeem Jeffries (D-N.Y.), said during a March 23 press conference that the Republican Party’s stance on the debt limit could have severe consequences for American families and the broader economy.

The possible fallout cited by lawmakers included but was not limited to the loss of retirement savings, seniors’ interruption of Social Security benefits, a global financial crisis possibly as bad as 2008, doubling unemployment, a steep decline in gross domestic product, crashing markets, and worldwide recession.

“It’s time for the extreme MAGA Republicans … to come together with everyone else … to do what’s necessary to raise the debt ceiling,” Jeffries said. “And then let’s sit down and have a conversation about the future and investments that need to be made on behalf of the American people.”

The conflict between Republicans and Democrats intensified following a March 10 letter from the House Freedom Caucus saying it would “consider voting to raise the debt ceiling” if certain contingencies were enacted through legislation.