NTU urges all Representatives to vote “YES” on H.R. 3746, the Fiscal Responsibility Act, which would implement many pro-taxpayer policies, such as a reduction in excessive IRS funding, caps on discretionary spending, the rescission of unspent COVID funds, and strong incentives for Congress to fund the government through the regular appropriations process. While the bill is not perfect, it represents an important step toward greater fiscal responsibility as it would reduce deficits by $1.5 trillion over the next ten years. It will be the most impactful deficit-reducing law in at least a decade, according to research from NTU Foundation.
The federal budget is out of control. We have reached the statutory debt limit of $31.4 trillion and have nearly exhausted all extraordinary measures to continue funding our responsibilities. Our fiscal trajectory must be changed. The Fiscal Responsibility Act begins this process. It will be up to current and future elected officials to continue down this path.
If this bill fails to be enacted into law, we will likely see a continuation of our reckless fiscal policies. This would mean more debt, fewer jobs, higher interest rates, and a less prosperous America. Congress cannot allow that to happen. Instead, NTU urges passage of the Fiscal Responsibility Act followed immediately by additional bipartisan efforts to restrain spending in a durable manner.
Roll call votes on the Fiscal Responsibility Act will be significantly weighted in NTU’s annual Rating of Congress and a “YES” vote will be considered the pro-taxpayer position.
If you have any questions, please contact NTU Executive Vice President Brandon Arnold at barnold@ntu.org.