Cut, Cap and Balance--Not Higher Taxes

Press Release

U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate floor Thursday regarding a vote on legislation that would cut government spending now, cap it in the future and approve a constitutional amendment to balance the federal budget:

"The Senate will begin debate today on the Cut, Cap, and Balance plan approved earlier this week in the House.

"This means that Senators will now have the opportunity to go on record either in support of balancing our books or against it.

"This is an opportunity to take a stand.

"It's an opportunity to say that a government which borrows more than 40 cents for every dollar it spends is not sustainable, and needs to change its ways.

"It's an opportunity to stand with those who believe that Washington needs to heal its addiction to spending now, not make more false promises of spending restraint later.

"The President's veto threat on this legislation is telling.

"Many of us learned a long time ago to pay more attention to what this President does than what he says. And anyone who's witnessed his reckless spending habits over the past two and a half years, or sat across the negotiating table with him over the past few weeks, could be forgiven for being skeptical of his recent attempts to come across as a fiscal moderate.

"I'll just say this: There should be no doubt in anyone's mind that this President is as deeply committed to a government we can't afford as he was on Inauguration Day.

"That's why we've decided to bring our case directly to the American people with the Cut, Cap, and Balance plan which forces Washington to get its fiscal house in order with a Constitutional Amendment.

"It's nice that some people are hoping the President's had a change in heart. But no one should be planning on it.

"Cut, Cap, and Balance cuts spending now, caps it in the future, and only raises the debt limit if it's accompanied by a constitutional amendment to balance the federal budget.

"This is what America wants. It's what Washington needs.

"All we need is 20 Democrats to join us. At least 23 of them have led their constituents to believe they'd fight for a balanced budget amendment. The White House has called for a balanced approach in this debate. This bill doesn't just suggest balance. It mandates it.

"So I strongly urge my Democratic friends to join us in supporting this legislation.

"Let me just note in closing another virtue of the Cut, Cap, and Balance Plan: it doesn't raise taxes.

"Why is this a good thing? Well, there are many reasons Americans don't like tax hikes.

"First, they know government is bound to waste the money.

"Americans have seen what government does with new tax revenue: they waste it on things like turtle tunnels.

"Second, they never use it pay down our deficits and debt.

"So if you're concerned about the size of our debt, then raising taxes is a sure way to ensure that nothing gets done about it.

"The reason we've got a debt crisis is that government spends every cent it gets -- and then some.

"Sending Washington more money will not solve that problem, it will enable it.

"Our tax system isn't perfect.

"But until Washington can prove that it's responsible with our tax dollars, we shouldn't be sending it more of them.

"This is why Republicans have focused on cuts in this debate, and that's why every one of us -- Democrat and Republican -- should support Cut, Cap, and Balance."

Source