Charting New Course on National Debt

Floor Speech

BREAK IN TRANSCRIPT

Mr. JOYCE of Pennsylvania. Mr. Speaker, today, our national debt stands at over $33 trillion, which is an increase of nearly $5 trillion since President Joe Biden took office.

By borrowing money from China to subsidize Green New Deal initiatives like windmills, solar panels, and electric vehicles, President Biden has failed to rein in spending and sent our national debt soaring to unprecedented levels.

As Congress looks to address next year's funding, it is clear that a change needs to be made and that cuts to government waste are needed in order to right the ship and restore sanity to our budget.

Right now, we are on an unsustainable trajectory that will put making interest payments on our debt the largest single line item in the Federal budget, surpassing Social Security, Medicare, and all other spending programs.

It is time to chart a new course and help return to fiscal solvency while supporting the priorities that matter the most, priorities like protecting seniors, funding our military, and securing our border.

Pennsylvania families and, in fact, all American families cannot afford President Biden's reckless spending, and I call on my colleagues to join me in working to pass a budget that is responsible and shows that Congress is working to be solid stewards of American taxpayer dollars. Recognizing National Lung Cancer Awareness Month

BREAK IN TRANSCRIPT

Mr. JOYCE of Pennsylvania. Mr. Speaker, this November, as we recognize National Lung Cancer Awareness Month, Congress must look to find new and innovative solutions to treat this terrible disease. Each year, lung cancer takes the lives of over 127,000 Americans, more than any other type of cancer in America.

Unfortunately, at a time when we should be looking for new innovation, the Inflation Reduction Act, or IRA, has led to a slowdown in research and development of new drugs and therapies that could be critical to saving American lives.

New price controls, which were established by the IRA, create a system of disincentives for smaller, innovative drug manufacturers that are working to treat rare diseases, including cancer.

To address this issue, I have been joined by a bipartisan group of my colleagues to introduce the ORPHAN Cures Act. This legislation would amend the IRA to create a new exemption that would incentivize researchers to explore the development of new medications to treat rare diseases and cancers.

The clock is ticking, and now is the time for Congress to pass this bipartisan solution for our constituents and the patients who are currently battling cancer and other rare diseases.

BREAK IN TRANSCRIPT

Source