Bipartisan Fiscal Forum Leaders Letter Calls to Address Debt
Bipartisan Fiscal Forum co-chairs Rep. Scott Peters (D-CA) and Rep. Bill Huizenga (R-MI) recently led a letter to House Speaker Mike Johnson (R-LA) and Leader Hakeem Jeffries (D-NY) calling for bipartisan action to address the debt.
In total, 20 members signed the letter, highlighting the need for lawmakers to significantly improve our fiscal trajectory so that the government can meet its obligations and handle future emergencies. Their letter comes at a time when interest payments on our debt are rising rapidly, and lawmakers will be faced with trillions in fiscal decisions from significant 2025 deadlines.
The Committee commends the lawmakers of the Bipartisan Fiscal Forum for continuing to work toward improving our nation's fiscal trajectory in a bipartisan way.
Full letter and list of signers below:
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Dear Speaker Johnson and Leader Jeffries: As we engage in the Fiscal Year 2025 appropriations process, it should remind all of us that a strong fiscal foundation is necessary to meet our nation’s goals as well as address future emergencies as they arise. The more our debt grows, the more difficult it will be to respond. The Fiscal Responsibility Act was a step forward and slowed the debt growth trajectory. But our fiscal position remains unsustainable. Our debt is growing faster than the economy, interest payments will surpass defense this year, and critical trust funds for Social Security, highways, and Medicare are all headed towards insolvency. This problem was not just years, but decades, in the making, and we must change course. While we may disagree on how exactly to fix the debt, we all agree that fiscal flexibility to respond to crises when they arise is a national priority and vital to our security. So, we urge you to continue working to find bipartisan ways to reduce our national debt The United States must remain the leading economy and a leader on the world stage. We cannot do so from a position of fiscal weakness. We need resilience and flexibility to engage both threats and opportunities as they arise. We look forward to working with you on these important objectives. Sincerely, Rep. Scott Peters (D-CA) |
