Washington, D.C. – Congressman Darin LaHood (IL-16) voted in favor of the Limit, Save, Grow Act, legislation that would responsibly raise the debt ceiling and protect our economy, while taking significant steps to address out-of-control spending. LaHood also joined Midwest colleagues in successfully advocating for the removal of provisions that would harm Illinois farmers, biofuels producers, and renewable fuels investment.
LaHood released the following statement after his vote:
"Illinois families who work hard must meet budgets and spend money within their means, and it is long past time that the federal government do the same. The Limit, Save, Grow Act is critical legislation that responsibly lifts the debt ceiling and grows our economy while addressing the key drivers of our national debt and unsustainable government spending. I was proud to advocate for the removal of proposed provisions that would harm renewable fuels investment and protect Illinois farmers and ethanol producers who are the lifeblood of our communities in the 16th District.
"In a divided government, we will need to come together to address the pending debt limit our nation will reach this summer. Debt ceiling negotiations are nothing new, and President Biden's refusal to come to the negotiating table with Speaker McCarthy is an irresponsible position that threatens our nation's economy. It's time for President Biden and Senate Democrats to get off the sidelines and work with House Republicans to reach a sensible debt ceiling increase that limits reckless Washington spending, saves Illinois taxpayers money, and strengthens our economy."
The Limit, Save, Grow Act will:
- End reckless spending by establishing spending levels for FY24 at FY22 levels–where the government was operating just 4 short months ago–and allow for 1% annual growth over the next 10 years.
- Save taxpayer money by reclaiming unspent COVID-19 funding, repeal funding for the IRS that could target middle and low income families, and prohibit Biden's student loan giveaway that would benefit those in the top half of the income spectrum
- Grow the economy by strengthening work requirements and helping more Americans earn a paycheck, learn new skills, and reduce child poverty
- In exchange for these pro-growth and cost-saving policies, the debt limit would be responsibly lifted through March 31, 2024 or by $1.5 trillion
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