House Approves Spending Cuts
(Arlington, VA) – Yesterday the House of Representatives approved H.R.3, the Spending Cuts to Expired and Unnecessary Programs Act. This legislation would cancel almost $15 billion in previously approved federal spending. This legislation must now be considered by the Senate.
Daniel Garza, President of The LIBRE Initiative, released the following statement:
“In the next decade, the U.S. government is expected to add trillions to our national debt. Just this week, government budget experts warned that federal entitlement programs like Medicare and Social Security face serious fiscal challenges and bankruptcy in the near future. Quite simply, out of control federal spending is threatening the nation’s fiscal health, and leaving our children and grandchildren with a mountain of debt – all because this generation’s government has refused to make fiscally sound choices. The vote today to rescind a small portion of previously-approved federal spending is a first step. Congress must do much more to rein in this reckless spending, and commit to a sustainable spending path in the future – starting with the upcoming 2019 federal budget.”