Fiscal Responsibility Act of 2023

Floor Speech

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Mr. SMUCKER. Mr. Speaker, I thank the chairman for yielding me time.

Mr. Speaker, I rise today in support of the Fiscal Responsibility Act. How could I not support a bill that claws back billions in unspent COVID funds, a bill that cuts trillions in Biden's out-of-control spending, a bill that caps spending levels for years to come, and a bill that enacts work requirements to bring more Americans back into the workforce, lift households out of poverty by connecting them with the best antipoverty program--a good job. Most importantly, this bill is the beginning. It is a start to put our Nation on a better fiscal trajectory.

Our debt-to-GDP today is at the highest level ever since the end of World War II. If we do nothing to curb spending, our Federal debt will be double our GDP by 2050. This is a start to change our trajectory.

Now, I wish I could be voting for more than this. I liked our original bill a heck of a lot better, but the fact is, the President and the Democrats who control the Senate fought hard to maintain their spending addiction.

Given that we only control the House, I am very pleased with all that is in this bill. It is most definitely an improvement over existing law, and I am disappointed that some of my colleagues don't see that.

This bill will give our creditors the confidence that we can govern by putting us on a better path.

It is a step in the right direction, and I am proud to support it.

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