Yesterday, House Republicans yet again delivered a massive victory for the American people with the passage of the Limit, Save, Grow Act of 2023, which will limit Washington’s irresponsible spending, save taxpayer dollars, and grow the American economy.
It’s past time for Joe Biden and Chuck Schumer to do their jobs.
MAKE NO MISTAKE: Debt ceiling negotiations are nothing new. President Joe Biden, former Speaker Nancy Pelosi, and Senate Majority Leader Chuck Schumer all have a long history of engaging in and supporting them. 70% of Americans agree, it’s time for President Biden to sit down with Speaker McCarthy.
BIDEN’S HISTORY OF SUPPORTING DEBT CEILING NEGOTIATIONS:
In 2009, Biden led debt limit negotiations with House Blue Dog Democrats.
In 2010, Biden said “it’s in everyone’s interest politically to cooperate” on raising the debt limit.
In 2011, Biden led debt limit negotiations with House Republicans.
In 2011, Biden called negotiations a “normal” process.
In 2011, Biden said during an interview with CBS News' Scott Pelley in 2011: "How can you explain the fact that grown men and women are unwilling to budge up till now, and still some of them are still unwilling to budge, by taking an absolute position: my way or no way. That`s not governing. That`s no way to govern. You can`t govern that way… I predict to you that a lot of those new members who came here with ‘my way or the highway,’ they`ll either be on the highway or they`ll learn that they have to have compromise"
SCHUMER’S HISTORY OF SUPPORTING DEBT CEILING NEGOTIATIONS:
In 2011, Schumer said “we know there has to be compromise to get things done. You can’t just draw a line in the sand and say my way or no way. It will lead to fiscal armageddon” when discussing the debt ceiling.
In 2011, Schumer said “I understand that we should always not just look at our own position, and try to understand somebody else’s position. That’s the way it works around here, otherwise we’d have a dictator, a benevolent dictator, we don’t.”
Schumer also said:
Schumer: “Let the public know who is willing to move away from their hard line position for the sake of compromise, for the sake of renewing the debt ceiling, for the sake of getting our large debt and deficit down, and who has refused to budge. I think the answer is pretty obvious.
Schumer: “We would urge speaker Banner and all of our Republican colleagues to sit down and negotiate.”
Schumer: “Let’s start negotiating something that will save this country from potential financial catastrophe now.”
RECENT HISTORY OF DEBT CEILING NEGOTIATIONS
In 2017, President Trump and Democrats waived the debt limit for three months while providing disaster relief for Hurricane Harvey.
In 2018, “After months of closed-door negotiations, then-Senate Majority Leader Mitch McConnell and then-Minority Leader Chuck Schumer locked in a plan to raise spending caps, increase the debt limit and fund the government.”
In 2019, “After months of closed-door negotiations, then-Senate Majority Leader Mitch McConnell and then-Minority Leader Chuck Schumer locked in a plan to raise spending caps, increase the debt limit and fund the government.”
In 2019, "Pelosi, the California Democrat, said the idea of raising the debt ceiling on its own and not in conjunction with a budget agreement was not 'acceptable to our caucus' and therefore did not stand a chance of passage in the House of Representatives."
JOE BIDEN AND HOUSE DEMOCRATS’ FAILED TAX AND SPEND POLICIES CAUSED THIS DEBT CRISIS:
Since President Biden took office in January 2021, he and House Democrats have increased the 10-year spending trajectory by $10 trillion.
This includes ramming through their $2 TRILLION so-called "American Rescue Plan" that ignited the highest spike in consumer prices in forty years, including:
$400 billion for policies that reduced private sector employment such as expanding unemployment insurance benefits that too often paid Americans to stay home rather than go to work and dismantling the Child Tax Credit by removing work requirements.
Billions lost to fraud due to Democrats’ rejection of Republican safeguards.
Billions in inflationary waste and abuse, including:
$783 million worth of checks to federal prisoners.
$1,400 stimulus checks sent to potentially as many as 70,000 Japanese citizens living in Japan.
$15 million to build a sports complex for the 2026 World Cup.
Biden’s Executive Actions have totaled OVER $1.5 trillion in spending, including Democrats’ student loan giveaway to the wealthy.
FAST FACTS ON THE LIMIT, SAVE, GROW ACT OF 2023:
Saves Americans $4.8 trillion over the next 10 years, according to the CBO.
Ends the era of reckless Washington spending
Reclaims billions in unspent COVID funds
Defunds Biden’s IRS army
Repeals “Green New Deal” tax credits
Prohibits Biden’s student loan giveaway to the wealthy
Strengthens the workforce and reduce childhood poverty
STRENGTHENING THE WORKFORCE AND ENDING CHILDHOOD POVERTY:
There is a workforce crisis in America that is fueling inflation, with nearly 10 million open jobs nationwide.
Due to work requirements, 60 percent who have left welfare are working, employment rates among single mothers have increased dramatically, and child poverty has declined.
Work requirements help preserve taxpayer-funded resources for the truly needy.
These policies have led to millions of able-bodied adults getting off welfare and going back to work.
Work requirements are the most effective tools in lifting individuals out of dependency and into self-sufficiency, and improving lives.
Work helps end the cycle of dependency for children growing up in families on welfare.
This provision would add new workers to the workforce who would pay payroll taxes that support Social Security and Medicare, preserving those programs for future generations.
Work requirements will only apply to able-bodied adults without dependents.
In states with work requirements, adults had their incomes more than double after leaving welfare.
In Wisconsin’s most recent election on April 4, 2023, nearly 80% of voters voted “yes” on the following ballot measure: “Shall able-bodied, childless adults be required to look for work in order to receive taxpayer-funded welfare benefits?”
FAST FACTS ABOUT BIDEN’S GREEN NEW DEAL TAX CREDITS:
The price tag for the Biden Administration’s so-called “green” energy future to electrify our nation continues to get more expensive. Taxpayers stand to pay more than 3 times the initial cost estimate for “climate change” provisions in the falsely titled Inflation Reduction Act (IRA).
The so-called “Inflation Reduction Act” enacted by Democrats last year gave $271 billion in tax credits to pay for “green” energy projects favored by the Democrat donor class.
Since the preliminary JCT estimate, independent analysis keeps raising the price tag, with one recent estimate putting the “green” subsidy handouts at $1.2 trillion.
The forecast misses include electric vehicles (difference: $379 billion), green energy manufacturing ($156 billion), renewable electricity production ($82 billion), energy efficiency ($42 billion), hydrogen ($36 billion).
Recent independent analysis estimates that the cost of the electric vehicle (EV) battery production tax credit alone could cost upwards of $196.5 billion, 540% more than the initial JCT estimate of $30.6 billion.
Companies with over $1 billion in sales receive more than 90 percent of special interest green energy tax subsidies.
Banks and insurers alone receive over half of green energy checks, far more than any other industry or sector.
In short, Democrats have created an enormous new corporate entitlement whose costs, if not repealed, will increase on autopilot and blow up the deficit while raising energy prices for average Americans.
BIDEN'S 'GREEN ENERGY ECONOMY' IS BENEFITING FAR LEFT BILLIONAIRES:
Biden's taxpayer-funded push to build a "clean energy economy" is benefiting the left's most prominent billionaire megadonors, including Bill Gates and Laurene Powell Jobs, a Washington Free Beacon analysis found:
In the last two months Biden's Energy Department has announced nearly $3 billion in loans to two electric battery companies, Redwood Materials and Ioneer, which are backed by seed funding from Gates, Jobs, and other left-wing billionaires.
Biden's green energy grants are going to groups funded by the same people who poured money into dark money groups that helped get Biden elected.
In July 2021, Redwood raised $700 million from a "carefully selected group of strategic investors," including Gates and Powell Jobs, who participated in the fundraising round through their investment firms.
In 2020, Gates sent $127 million to a liberal dark money network working to elect Democrats, while Powell Jobs gave left-wing candidates and political groups more than $2 million.
This is far from the first time Biden's efforts to advance green energy have benefited his donors. The Democrat last year awardedthousands of acres of public land to a solar energy company whose top executive helped him raise millions of dollars.
