More on Budget
The COVID-19 pandemic cast the United States into uncharted territory. Americans were asked to take unprecedented steps in order to slow down the spread of the virus. I have supported bipartisan efforts Congress and President Trump have enacted to fight this virus and provide economic relief. However, I continue to have serious concerns about the costs associated with these bills. We have long had a spending problem, and we must refocus on addressing troubling spending patterns even while fighting COVID-19.
Washington, D.C. – Congressman Adrian Smith released the following statement after supporting Phase III of the COVID-19 assistance negotiated by the Trump administration, known as the CARES Act:
Just a few weeks ago, we were in the midst of the strongest economy in years. We now find ourselves with questions about what will happen to our economy due to the COVID-19 outbreak. In contrast with other times of economic uncertainty, this interruption in our economy was not caused by bad decisions or nefarious actors, nor were we nearing the end of a business cycle. It was caused by a viral pandemic: a natural disaster. Though it may be painful, American resolve will bring us through this crisis.
We have a spending problem, not a revenue problem. Last year, federal revenue was at a near record high, yet our debt continued to increase. Despite attempts to restore fiscal order, this trend has been ongoing for years.
In 2011, Congress and President Obama brokered a bipartisan compromise to stop the bleeding. The Budget Control Act of 2011 (BCA) cut spending, capped future spending, and included no tax increases. While this bill was not perfect, it showed bipartisan resolve to address our spending crisis.
Washington, D.C. – Congressman Adrian Smith (R-NE) released the following statement today after voting against the Mnuchin-Pelosi budget deal:
“I cannot support a budget which raises spending this much without needed budget reforms. By lifting budget caps and raising the debt ceiling without corresponding spending cuts, we only push the problem to a later date without a solution.”
This budget agreement raises budget caps by $321 billion and suspends the debt ceiling until July of 2021. It passed the House by a vote of 284-149.
Washington, D.C. – Congressman Adrian Smith (R-NE) released the following statement after the House of Representatives passed legislation to provide assistance for presidentially declared disasters, including the March 2019 “bomb cyclone” which struck Nebraska. This vote came after the Senate recently voted in favor of this bill, and will now be sent to the President’s desk.
As we prepare to join our families for Christmas, I am reminded of so many things we should be thankful for. This year will be our second Christmas with our young son, Zeke. Much of what I do in Washington is motivated by a desire to leave a healthy country for coming generations to inherit.
When I listen to former President Ronald Reagan’s speeches, it is clear he was motivated by the same feelings. He always appealed for unity with a positive disposition, but he never shied away from directly addressing the American people.
This week, the House of Representatives considered H.J.Res. 2 to amend the U.S. Constitution to require a balanced federal budget. This would be an important first step toward rectifying our financial situation because we have a long road ahead if we intend to pay back the more than $21 trillion in debt we currently owe.
Washington, D.C. – Congressman Adrian Smith (R-NE), a senior member of the Committee on Ways and Means, delivered the following remarks today during consideration of H.J.Res 2, proposing a balanced budget amendment to the Constitution of the United States. Rep. Smith is a cosponsor of the resolution.