Press Releases

Washington, DC—May 31, 2023…Congressman Steve Womack supported H.R. 3746, the Fiscal Responsibility Act, which responsibly suspends the debt limit until January 1, 2025. In addition, the legislation includes commonsense fiscal reforms and pro-growth policies.

Congressman Womack said, “Meeting the financial obligations of the government is our fundamental duty in Congress. It's never easy, but reaching a compromise is essential. Although President Biden and Senate Democrats dragged their feet for months, pushing us close to default, I’m glad all parties came to the negotiating table to deliver a result our nation so desperately needed. Importantly, House Republicans secured key priorities that will curtail federal discretionary spending, claw back unnecessary funds—including funds for the President’s Internal Revenue Service expansion—expand welfare work requirements, and substantially reform the NEPA process. As we move forward, we need to be cognizant of the real drivers of our debt – mandatory spending programs. I will continue to work on solutions to those larger problems.”

Specifically, H.R. 3746 would institute discretionary spending caps of $1.59 trillion in fiscal year 2024 and $1.605 trillion for fiscal year 2025, claw back approximately $28 billion appropriated by the partisan American Rescue Plan, and rescind $1.4 billion in funding for the Internal Revenue Service. The legislation also has the first major reforms to the National Environment Policy Act (NEPA) since 1982, including a one-year deadline for environmental assessments and a two-year deadline for environmental impact statements. Furthermore, the bill expands work requirements for federal welfare programs, ends the Biden Administration’s pause on student loan payments that is costing taxpayers roughly $5 billion per month, and enacts the first ever statutory pay-as-you-go rule for executive actions.

Congressman Steve Womack (AR-3) has represented Arkansas’s Third Congressional District since 2011. He is a member of the House Appropriations Committee.

womack.house.gov

###