SE North Carolina News

WASHINGTON, DC - Congressman David Rouzer (NC-07) released the following statement after voting in support of the Limit, Save, Grow Act:

“We must get Washington’s spending under control.  Today’s vote is a major milestone achieved.  By pairing sensible spending reforms that would result in $4.8 trillion in deficit reduction over ten years alongside legislation to address the debt limit, House Republicans' plan will protect American taxpayers, help ensure the longterm viability of the dollar, and strengthen the U.S. economy.  

“It’s time for the U.S. Senate and President Biden to come to the table and negotiate a deal that responsibly increases the debt limit to avoid default of our payment obligations.”

The Limit, Save, Grow Act:

1. Limits Federal Spending

Establishes spending levels for FY24 at FY22 levels, where the government was operating just 4 short months ago, and allows for 1% annual growth over the next 10 years.

(SAVINGS: Approximately $3.6 trillion)

2. Saves Taxpayer Dollars

Rescinds unspent COVID funds 

SAVINGS: Approximately $50-60 billion)

Defunds President Biden’s 87,000-strong "IRS Army" 

(SAVINGS: Approximately $71 billion)

Repeals Green New Deal tax credits

(SAVINGS: Approximately $271 billion - $1.2 trillion)

Prohibits unfair student loan giveaways to the wealthy 

(SAVINGS: Approximately $465 billion)

3. Grows the Economy

Strengthens the workforce by restoring commonsense measures to assistance programs

Prevents Executive Overreach and Curbs the Regulatory State

Lowers Energy Costs and Unleashes Domestic Production

4. A Responsible Debt Limit Increase

In exchange for these cost-saving policies, the debt limit would be lifted through March 31, 2024 or by $1.5 trillion – whichever occurs sooner.

Original source can be found here.