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WASHINGTON, D.C. – Today, Representative Virginia Foxx (R-NC) issued the following statement after reintroducing the Spending Safeguard Act, legislation that would clamp down on Washington’s reckless and wasteful spending binges with commonsense budgetary reforms:

“Washington has proven time and again that it is simply incapable of being a good steward of hardworking taxpayer dollars – history confirms this with blinding clarity. Two-thirds of all federal spending is allocated to mandatory spending programs, but fiscal oversight of these programs – and opportunities to curb their exceeded cost estimates – fall far short of what the American people demand.

“This is precisely why I’ve introduced the Spending Safeguard Act, legislation that restores congressional control over mandatory spending increases by establishing program-specific caps for new or reauthorized programs. The Spending Safeguard Act complements efforts currently being made to restore Washington’s fiscal house to working order – and it offers a reasonable glidepath to help achieve that end.”