WASHINGTON, DC – Today, Congressman Bryan Steil (WI-01) released a statement after voting to pass H.R. 2811, the Limit, Save, Grow Act of 2023, legislation to responsibly increase the debt ceiling for one year and limit federal government spending to save taxpayer dollars and reduce the deficit by $4.8 trillion over the next 10 years.
“Today, the House took a step in the right direction. For too long, Washington’s spending binge has gone unchecked, putting our nation $31 trillion in debt. It’s time for President Biden to come to the table and work with Congress to get us on a path towards fiscal stability.”
The Limit, Save, Grow Act would address the debt ceiling and reduce federal spending. The bill would suspend the debt ceiling through either March 31, 2024, or a $1.5 trillion increase from the current $31.4 trillion ceiling, whichever comes first. CBO finds the bill would save $4.8 trillion through FY2033, with about $4.3 trillion of policy savings and $545 billion of interest savings.