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Economy

Lucas Statement on Avoiding Default on Debt, Common-Sense Return to Fiscal Responsibility

Jun 01, 2023
Economy
Press

Washington, DC – Congressman Frank Lucas (OK-03) released the following statement after the U.S. House of Representatives passed H.R. 3746, The Fiscal Responsibility Act.

“House Republicans have warned President Biden and the Democrats of the consequences of their unsustainable spending spree. Since President Biden took office, House Democrats have increased the 10-year spending trajectory by $10 trillion. Republicans understand the imperative to rein in spending and defend the full faith and credit of the United States. Today’s vote to responsibly raise the debt ceiling and enact significant spending cuts saves American families and the U.S. economy from severe economic hardship,” said Congressman Lucas. “Our national debt stands at $31.8 trillion, a symptom of Washington’s fiscal irresponsibility. The Fiscal Responsibility Act includes important polices and reforms that will cut spending and strengthen our economy, a necessarily step to ultimately put our fiscal house in order.”

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