From the office of Rep. Adam Kinzinger (IL, 11th Dist.)…
Legislation authorizes largest debt limit increase in history
Washington, D.C. – Today Congressman Adam Kinzinger (IL-11) issued the following statement after voting against H.R. 2693, Senate Majority Leader Harry Reid’s debt limit increase plan that fails to offer spending cuts greater than the increase and authorizes the largest debt limit increase in history. The measure failed in the House by a vote of 173-246.
“Senate Majority Leader Harry Reid’s plan offers phantom savings, accounting gimmicks and hands a blank check to the President, signed by the taxpayers. It fails to cut more in spending than it increases in the debt ceiling and the deep slashes to our defense, threaten the security of our country.
“General Martin E. Dempsey, President Obama’s nominee to be chairman of the Joint Chiefs of Staff, also cautioned that these cuts to the military budget would be ‘extraordinarily difficult and very high risk.’
“Over the last two weeks, the House passed two plans that would end the debt limit crisis, cut trillions of dollars in spending, remove barriers to job growth and refuel our economy.
“Yesterday the House passed the Budget Control Act, legislation that was created during bipartisan discussions between House and Senate leaders. Unfortunately, Senator Reid abruptly abandoned this legislation to work on a partisan plan, knowing full well that it would never pass the House.
“The House Republicans’ Budget Control Act upholds the promises made – it cuts more spending than the increase in the debt limit and it does not raise any taxes. This plan cuts and caps spending by $917 billion over 10 years and would prevent a national default which threatens our economic growth as well as the national security of our country.
“Additionally, the House-passed legislation forces Washington to maintain a strong focus on cutting spending and requires a plan by December that cuts at least $1.8 trillion more. Upon passage, this plan would mark the deepest spending cuts since World War II.”
Background on H.R. 2693, The Reid Plan:
Fails to pay for the debt limit increase: The bill violates the principle that any debt limit increase be less than or equal to the corresponding spending cuts. It raises the debt limit by $2.4 trillion while only cutting the deficit by $927 billion without gimmicks (or $2.2 trillion with the war funding gimmick, discussed next).
Largest debt limit increase in history – $2.4 trillion: Provides a procedure for raising the debt limit by allowing the President to request a debt limit increase of $1.2 trillion, and congressional procedures for votes on a resolution of disapproval. Provides for another presidential request of a $1.2 trillion increase, and another congressional disapproval process.
GWOT gimmick remains: The overall $2.2 trillion deficit reduction includes the Global War on Terror (GWOT) spending gimmick. “Savings†from GWOT should not be counted towards deficit reduction. Current levels of funding for the GWOT for the next ten years were not requested by the Administration; the Administration is not planning on spending $160 billion each year on the GWOT for the next ten years.
Slashes Defense Funding: The Reid plan would have a harmful impact on our military by slashing $868 billion in defense funding over 10 years when weighed against the President’s FY 2011 budget request. Since the President submitted his budget, defense has already shrunk by more than $400 billion.
No Balanced Budget Amendment: There is no requirement that Congress even votes on a BBA.