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I’m absolutely NOT voting to raise the debt ceiling later this month. No way. You might hear news about this in the coming weeks.

Here’s an analogy. Imagine being up to your eyeballs in debt. With each passing month you borrow more & more to cover your out-of-control spending, and the amount you have to pay each month on interest alone exceeds your housing and transportation costs combined. You’ve no plan (or desire) to reduce spending or get your debt under control, yet you’re rapidly approaching your credit card limits. And then…

And then your credit card company raises your limit!

Well, that’s a pretty close comparison to the federal government. We’re rapidly approaching $29 TRILLION in debt, with no appetite in Congress to reduce spending. Yet later this month, Congress will consider simply raising the limit that the federal government can borrow. It’s is all so dysfunctional.

Back in 2019, Congress made a foolish decision to suspend the debt ceiling limit, which essentially allowed the federal government to continue borrowing and spending. (I voted against that, of course.) That suspension is set to expire at the end of this month, and there’s already substantial pressure on those of us in Congress to raise it.

NOT WITH MY VOTE! What we need are budget caps, budget reform, long-term spending controls, and offsets for any new spending. Anything short of this is highly irresponsible.

Another reminder for those who seem to think we can magically find extra revenue by raising corporate taxes or by “making the rich pay their fair share.” First, the top 25% of income earners already pay more than 86% of all federal income taxes. And second corporations don’t pay taxes, people do. When you tax a corporation, all that business can do is pass along the costs to customers, employees, or shareholders.

Here’s a letter I sent yesterday to the Chairman and Ranking Member of the Budget Committee, one of the committees on which I have previously served in the House.

https://norman.house.gov/UploadedFiles/Budget_Ceiling.pdf