Rep. McHenry supports legislation to raise debt ceiling, limit government spending

Posted on by Mike Fuhrman

Special to Iredell Free News

WASHINGTON — Congressman Patrick McHenry (NC-10) voted earlier this week in support of the “Limit, Save, Grow Act of 2023.” This bill would raise the debt ceiling and cut government spending. Proponents said the legislation will stimulate economic growth.

Rep. Patrick McHenry

“It’s critical that we raise the debt ceiling with as little brinksmanship as possible. Unfortunately, President Biden and Congressional Democrats continue to play political games at the expense of the American people,” McHenry said. “Like Nancy Pelosi and then-Vice President Biden before him, Speaker McCarthy is pushing to use the debt limit as a time to take stock of government spending, which has been too high for too long. Speaker McCarthy has united House Republicans around a plan to responsibly raise the debt limit, while limiting government spending, saving taxpayer money, and growing our economy.”

The “Limit, Save, Grow Act of 2023” (H.R. 2811) increases the federal debt limit and decreases spending. It also repeals several energy tax credits, modifies the permitting process and other requirements for energy projects, expands work requirements for the Supplemental Nutrition Assistance Program (SNAP) and other programs, and nullifies regulations for the cancellation of federal student loan debt.

The bill:

♦ Suspends the debt limit through March 31, 2024, or until the debt increases by $1.5 trillion, whichever occurs first;
♦ Establishes discretionary spending limits for FY2024-FY2033 that include decreases in discretionary spending;
♦ Rescinds certain unobligated funds that were provided to address COVID-19 and to the Internal Revenue Service;
♦ Nullifies certain executive actions and regulations for cancelling federal student loan debt and implementing an income-driven repayment plan for student loans;
♦ Repeals or modifies tax credits for renewable and clean energy, energy efficient property, alternative fuels, and electric vehicles;
♦ Establishes new work requirements for Medicaid and expands the work requirements for SNAP and the Temporary Assistance for Needy Families (TANF) program; and
♦ Requires major federal rules (e.g., rules likely to result in an annual economic effect of at least $100 million) to be approved by Congress before they take effect.

3 thoughts on “Rep. McHenry supports legislation to raise debt ceiling, limit government spending”

  1. Mary Englebert says:

    I see he fails to mention the 22 percent cuts to Veteran’s healthcare, opioid addiction programs, Medicare & Social Security Assistance to seniors, the FBI, border security (remember how important he’s been telling us THAT is) and on and on that will result from it (although the Senate won’t pass that joke of a bill and President Biden wouldn’t sign it). It will not bring economic prosperity in the same way the GOP tax cuts for the wealthy did not bring it to middle and working class folks. Twenty-two percent cuts to social programs that assist middle and working class people would be devastating to us, but Rep. McHenry and other GOP reps are far more concerned about making sure the Elon Musks, Jeff Bezos, etc., et al don’t have to pay taxes (and in many cases get rebates from the Fed Govt). So, if you’re so inclined–celebrate with Rep. McHenry, but please don’t complain when you cannot get someone on the phone to help you with a Social Security problem or question. Just tell yourself, I voted for this and I like it.

  2. Dr Dankenstein says:

    He also votes to protect hedge funds and is against more transparency in our stock markets. In other words, he is bought and paid for by big money.

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