Lawmakers Criticized for Lack of Action
A bipartisan group has criticized members of the House and Senate for their inaction in addressing the current fiscal crisis. The group expressed concern over a potential agreement between House Republican leadership and Democrats to exceed the modest $1.59 trillion statutory cap set by the Fiscal Responsibility Act.
Unacceptable Spending Numbers
The group voiced their disapproval of the potential agreement, stating that it is “totally unacceptable” to obscure the actual spending numbers with shady side deals and accounting tricks. They believe that such actions would only worsen the already troubling situation.
Bipartisan Fiscal Responsibility Act
The Fiscal Responsibility Act, a bipartisan effort led by President Biden and former Speaker Kevin McCarthy, would set next year’s funding levels at a topline of $1.59 trillion. However, Congress has the ability to approve additional funding as deemed an “emergency.” There is also a provision allowing for approximately $69 billion in additional non-defense spending.
Opposition to Exceeding the Cap
Speaker Mike Johnson has signaled his opposition to exceeding the $1.59 trillion cap set by the Fiscal Responsibility Act. He emphasized the importance of following the law and not exceeding the agreed-upon topline.
Call for Responsible Negotiations
A call has been made for responsible negotiations in the upcoming fiscal year. The group urges Republicans to reduce programmatic spending and put an end to disingenuous gimmicks that hide the true impact of spending decisions from the American people.
Deadline Looms
A short-term plan enacted by Speaker Johnson has bought lawmakers more time to negotiate. However, current government funding levels expire under two separate deadlines – January 17 for some agencies and February 2 for others. Failure to strike a deal for fiscal year 2024 or another short-term extension by then could lead to a partial government shutdown.
It remains to be seen how Congress will address the concerns raised by the bipartisan group and navigate the fiscal challenges ahead.