KEY VOTE: “YES” ON The Limit, Save, Grow Act (H.R. 2811)

The Limit, Save, Grow Act establishes spending reforms and pro-growth policies that vastly outweigh the debt ceiling dollar amount increase. This historic proposal would institute more than $4.5 trillion in savings and pro-growth reforms to restore the nation’s fiscal house following the Left’s reckless spending of more than $6 trillion since President Biden took office.

Paired with these historic spending cuts, the bill also raises the debt ceiling by $1.5 trillion or until March 2024, whichever comes first. As the debt ceiling was breached in January 2023, this raise to the ceiling is a necessary component to reach a final agreement.

However, the real importance of this bill is in the spending cuts and savings to taxpayers. As Heritage Action has called for since January, the Limit, Save, Grow Act would cap overall spending at the fiscal year 2022 spending levels, which can return the federal government to pre-COVID spending levels. This amounts to more than $130 billion in spending reductions in the first year of implementation. Additionally, it would lock in those savings by guaranteeing only a 1% increase in budget authority year over year – essentially capping future growth of government spending.

Importantly, the Limit, Save, Grow Act would also cut spending in areas where it is needed most—programs Joe Biden has weaponized against the American people to force radical cultural change. This bill rescinds unspent and inflationary COVID funds that were used to push an authoritarian narrative and agenda. It blocks the Biden administration’s unconstitutional student loan forgiveness plan, a political payoff to supporters in higher education, and a large base of high-income voters. This bill also reverses the Biden administration’s previous efforts to weaponize the IRS against working Americans—it repeals over $70 billion in IRS funding for harassing audits. Finally, this bill repeals hundreds of billions in “Green New Deal” style tax credits for large corporations that would increase their bottom lines while trading American energy in exchange for Communist China’s (solar) power.

Importantly, the legislation also contains several important policy wins that would unleash economic growth previously held back by the Left. This includes basic work requirements for programs like Supplemental Nutrition Assistance Program (SNAP), which would ensure those who receive the benefits work toward reentering the workforce and becoming self-sufficient. It contains the REINS Act to establish congressional authority in approving or disapproving regulations that significantly impact the economy, and provisions of H.R. 1, the Lower Energy Costs Act, to speed up the gas/oil permitting processes and unleash the American energy sector and energy independence.

Every day the American people feel the pain and inflationary pressures caused by Washington’s spending addiction. As the national debt nears $32 trillion, Americans no longer feel optimistic about their own economic outlook and the financial future of our country. The proposals in the Limit, Save, Grow Act are widely supported and reflect a conservative approach to prioritizing fiscal sanity in Washington.