10.30.15

Gardner Statement on Bipartisan Budget Act

Washington, DC – Senator Cory Gardner (R-CO)  today released the below statement after voting against the House of Representatives’ amendment to the Bipartisan Budget Act of 2015.

“As I travel around Colorado, I consistently hear my constituents express frustration with Washington’s reckless regard for the mounting debt that we’re passing on to our children and grandchildren,” said Gardner. "While I recognize the importance of preserving the full faith and credit of the United States, I could not in good conscience support the Bipartisan Budget Act as it does not include enough reforms to control long-term spending. At a time when our national debt is $18 trillion and growing, it’s more important now than ever that Congress acts responsibly and makes the tough but necessary choices to rein in this Administration’s spending spree. Our spending-driven debt crisis threatens the very future of this country, and it’s far past time that Congress acts to address it and return us to a path of fiscal prosperity.”

Earlier this week, Gardner and Sen. Mike Lee (R-UT) introduced the Reducing Excessive Government (REG) Act as an amendment to the Bipartisan Budget Act of 2015. The REG Act would require any increase in the debt limit approved by Congress and the President be accompanied by a dollar-for-dollar decrease in regulatory burden for every new dollar of debt. If the debt limit were to be raised by a set amount rather than suspended, the dollar-for-dollar reductions in the REG Act would apply to that set amount. It directs federal agencies to provide Congress with a report, certified by the Government Accountability Office, of regulations with a cost to the United States’ economy of over $100 million. Congress would be required to vote on the removal of an amount of regulatory burden equal to the amount of new debt, and the President would then sign that removal legislation into law. If Congress fails to pass the removal of regulatory burden or the President fails to sign it, the debt limit would snap back to current levels plus any debt acquired since passage of legislation to increase or suspend the debt limit.

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Cory Gardner is a member of the U.S. Senate serving Colorado. He sits on the Energy & Natural Resources Committee, the Foreign Relations Committee, the Commerce, Science, & Transportation Committee, and the Small Business & Entrepreneurship Committee, and is the Chairman of the Subcommittee on East Asia, the Pacific, and International Cybersecurity Policy.

 

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