Republican Senators Unveil Cut-Cap-Balance Act to Defeat Debt Crisis

Statement

Today Sen. Rand Paul and many of his Senate Republican colleagues who called for the Senate to come back to session this week, held a press conference where Sen. Mike Lee (R-Utah) unveiled a proposal for dealing with the debt crisis - the Cut-Cap-Balance Act.

Sen. Paul, an original co-sponsor of the Cut-Cap-Balance Act, issued the following statement.

"Last week I joined my fellow concerned Republican Senators and demanded the Senate stay in session to work on solutions to the debt crisis. Instead, the Senate Democrat leadership offered unrelated legislation, wasted precious time, and declared no more votes for the remainder of the week."

"As opposed to those not serious about dealing with the debt, my GOP colleagues and I worked through recess and now have a real plan to end this precipitous spending.

"The Cut-Cap-Balance Act would increase the debt ceiling, but only upon passage of spending cuts, a structural cap on spending, and a balanced budget amendment. The Cut-Cap-Balance Act would restore trust in the American people that their Congress can balance a budget and return our nation on the path to prosperity."

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