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Foxx supports bill to reduce spending by $917 billion, avoid debt default
Washington, DC,
August 1, 2011
Congresswoman Virginia Foxx, (NC-05) released the following statement today in support of the Budget Control Act, a bill to reduce federal spending by $917 billion and avoids a debt default:
Contact: (202) 225-2071 Congresswoman Virginia Foxx, (NC-05) released the following statement today in support of the Budget Control Act, a bill to reduce federal spending by $917 billion and avoids a debt default: “As I said last week about an earlier version of this bill, it is a bitter pill swallow,” Foxx said. “However, it does fundamentally shift the Washington conversation from ever-increasing government spending to one about cutting spending. Even though I preferred an alternative to this bill, this bill represents the best opportunity to cut spending, permanently reduce the deficit and enact a Balanced Budget Amendment. “After decades of unbridled government growth, this bill stops big government in its tracks. It moves us towards a balanced budget amendment avoids tax increases and puts tough caps on spending. The Budget Control Act also reduces federal spending by an amount greater than the increase in the debt limit. Never before has Congress linked increases in the debt limit to such large spending reductions. Despite the bill’s flaws, it is a promising first step to tackling our long-term debt problem.” |