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WASHINGTON – Today, Rep. Foxx introduced H.R. 2516, the Spending Safeguard Act which provides Congress with a comprehensive mechanism to take action when mandatory programs significantly exceed their cost estimates in the six-year window after their enactment. On numerous occasions, programs have come in significantly over-budget and left Congress with little ability to address unexpected spending levels and make reforms needed to ensure programs’ sustainability. The result is that programs run on autopilot and unchecked spending drives up the national debt.

Rep. Foxx stated, “Autopilot spending is the main driver of our national debt, and by 2028, it will constitute a whopping 15% of our GDP. This is simply unsustainable. We need a clear-eyed view when it comes to all spending, and this bill implements commonsense reforms to safeguard federal programs for the future. Reigning in runaway federal spending is particularly important when radical proposals like Medicare for All are on table, which conservative estimates project will cost $32.6 trillion over the first 10 years.”

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U.S. Rep. Virginia Foxx represents North Carolina’s 5th Congressional District and is Senior Republican of the House Committee on Education and Labor.