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U.S. National Debt:

Crapo: Missed Opportunity for True Budget Reform

Voted against the Fiscal Responsibility Act

Washington, D.C.--Citing continued concerns with the unsustainable path of the national debt, U.S. Senator Mike Crapo (R-Idaho) issued the following statement after voting against the Fiscal Responsibility Act (FRA), which passed the Senate 63-36.

“The Fiscal Responsibility Act makes important progress in addressing the discretionary side of federal spending, including by rescinding a portion of unused COVID funds and bloated IRS funding.  It also reforms the U.S. permitting process and includes targeted improvements to social programs that ensure the safety net is serving those who need it most.  Most importantly, the United States will avoid default on paying its bills.

“However, because the White House waited months to engage in serious, bipartisan conversations with Republicans, Congress was left with little time to adequately address our overall ballooning national debt, keeping spending at swollen, post-COVID levels.

“The Fiscal Responsibility Act is a missed opportunity for true budget reforms to prevent the type of excessive spending we have seen over the last two years.  This was a time to ensure new federal government bills do not continue to pile up.  Instead, the White House continues to push its inflationary policies with no firm commitment or requirement to exercise fiscal restraint.  America’s long-term fiscal gap is unsustainable, and we have a responsibility to fix it.”