Apr 19, 2024
The Honorable Chuck Schumer
Majority Leader
U.S. Senate
Washington, DC 20510
The Honorable Mitch McConnell
Minority Leader
U.S. Senate
Washington, DC 20510
The Honorable Mike Johnson
Speaker
U.S. House of Representatives
Washington, DC 20515
The Honorable Hakeem Jeffries
Minority Leader
U.S. House of Representatives
Washington, DC 20515
Dear Majority Leader Schumer, Speaker Johnson, Minority Leader McConnell and Minority Leader Jeffries,
With our nation facing extraordinary economic challenges, the need for fiscal restraint cannot be understated. The national debt now exceeds $34 trillion, the deficit for the current fiscal year has already eclipsed $1 trillion, and interest payments on the debt will be larger than our defense budget this year.
To be sure, our nation also faces challenges abroad that require both diplomatic engagement and financial support. To that end, Congress will soon vote on a package of emergency appropriations bills that total more than $95.3 billion. While there is a wide divergence of views on the merits of this package, there should be no disagreement on the need to minimize its fiscal impact. By this measure, there should be considerable concern for taxpayers.
We are disappointed about the inclusion of certain items in this bill – such as the $3.3 billion for submarine infrastructure and drydock construction – that ought to have been part of the regular appropriations process, not included in an emergency supplemental. We are also disappointed that several amendments to offset spending were not made in order by the House rule. For instance, we strongly urge a vote on Rep. John Brecheen’s (R-OK) amendment to claw back unobligated COVID funds from Coronavirus State and Local Fiscal Recovery Fund, which could save tens of billions of dollars. These are missed opportunities, yet the opportunity for fiscal restraint remains open.
If this supplemental package is enacted into law, we strongly urge the immediate consideration of legislation to meaningfully address our mounting fiscal crisis. This should include the creation of a fiscal commission to examine all cost-drivers, the extension and strengthening of discretionary spending caps imposed by the Fiscal Responsibility Act, a comprehensive strategy to recover unobligated and misspent COVID funds, and much more.
We look forward to working with you on this essential task as you tackle the many challenges facing Congress and our nation.
Sincerely,
Pete Sepp