Senate conservatives applauded Speaker Kevin McCarthy’s (R-CA) and House Republicans’ plan to raise the debt limit with spending cuts.
House Republican leadership unveiled the Limit, Save, Grow Act of 2023, a bill that would raise the debt limit by $1.5 trillion and cut spending by $130 billion.
The debt ceiling bill would:
- Rescind unobligated coronavirus aid money
- Block “unfair” student loan giveaways
- Repeal “market distorting green tax credits”
- Repeal the roughly $80 billion in funding to hire 87,000 IRS agents made available thanks to the Inflation Reduction Act
- Implement the Regulations from the Executive in Need of Scrutiny (REINS) Act, which would curb the regulatory state
- Enact H.R. 1, the Lower Costs Energy Act, a sweeping energy reform bill
Sens. Mike Lee (R-UT), Mike Braun (R-IN), Ron Johnson (R-WI), and Rick Scott (R-FL) applauded the bill, saying in a written statement:
We congratulate the House Freedom Caucus, Speaker McCarthy, and House Republicans on their framework to fundamentally transform the way Washington works. The broken status quo in Washington has failed and put American families on the hook for more than $31 trillion in debt. The time for accountability is NOW. Inflation is crushing the middle class, Democrats are trying to outlaw the American energy grid while funding elitist, progressive policies against the interests of blue-collar America. This good bill repeals the trillions of dollars in Green New Deal credits that will put Americans out of work, places real work requirements on federal programs that encourage employment, prohibits unfair student loan giveaways, and lifts the bureaucratic stranglehold on American industry by passing the REINS Act. By comprehensively addressing the needs and wants of the American people, this framework goes further to address the tyranny flowing out of Washington than anything we’ve seen in years. It is a courageous first step toward a better and more prosperous America. There is a strong, conservative Republican Party all across America that is demanding action to put our nation back on the path to fiscal sanity.
FreedomWorks backed the plan, asking rhetorically why Democrats would not want to return to pre-coronavirus pandemic level spending:
Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter @SeanMoran3.