WASHINGTON — As President Biden continues to lead America into fiscal insolvency, the Members of the House Freedom Caucus have adopted an official position to chart a path forward on the debt ceiling. The HFC “Shrink Washington, Grow America” framework entails significant cuts to current spending, long-term caps on future spending, and major policy changes and reforms to the wasteful, woke, and weaponized federal bureaucracy.
“The Members of the House Freedom Caucus will consider voting to raise the debt ceiling contingent upon the enactment of legislation to:
Cut current spending by ending President Biden’s $400 billion student loan bailout; rescinding all unobligated, unspent COVID-19 funds; recouping the $80 billion in IRS expansion funds, as well as billions of wasteful climate change spending in the so-called “Inflation Reduction Act;” and finding every dollar spent by Democrats that can be reclaimed for the American taxpayer.
Cap future spending by setting topline discretionary spending at the FY2022 level for 10 years, allowing for 1% annual growth. Doing so will cut $131 billion in FY2024 and save roughly $3 trillion over the long term by cutting the wasteful, woke, and weaponized federal bureaucracy. Furthermore, this enables Congress to use the appropriations process to address the many abuses and disasters caused by the Biden Administration, such as the chaos on the southern border, COVID vaccine mandates and discrimination policies, and the unconstitutional “pistol brace” ATF rule. Importantly, 10-year spending caps at the FY2022 level puts our budget on the path to balance while protecting Social Security retirement and Medicare benefits.
Grow the economy by enacting major policy changes and reforms to the wasteful, woke, and weaponized federal bureaucracy, including but not limited to:
- Curtailing burdensome regulations by requiring congressional approval under the REINS Act;
- Unleashing the production of reliable domestic energy by ending federal regulations and subsidies;
- Restoring Clinton-era work requirements on welfare programs; and
- Passing a pre-emptive Continuing Resolution with non-defense discretionary spending restored to the pre-COVID FY2019 level to force Congress to pass appropriations in a timely manner.”