Thompson Supports Deficit Reduction Agreement

Washington, D.C. – Representative Glenn ‘GT’ Thompson tonight voted to support S.365, the Budget Control Act Agreement. The measure, which now heads for consideration in the Senate, passed the House by a vote of 269-161.

“We’ve led the fight for controlling spending and saving our children and grandchildren from national bankruptcy, and this bill begins the path to fiscal solvency,” said Thompson. “America can no longer afford budget tricks and accounting gimmicks, and this measure will force Washington to get its fiscal house in order and meet its obligations.”

S.365 creates a process for the president to increase the debt limit by as much as $2.4 trillion, following the enactment of up to $2.4 trillion in spending cuts and other deficit reduction measures, or the passage of a balanced-budget amendment to the Constitution.

“American families, especially those in rural America, have had to tighten their belts and do more with less, and we now are going to see this same fiscal restraint and responsibility coming from Washington – the likes of which we haven't seen in a long, long time.” Thompson added. “It’s time for the Senate to act and end this debt crisis, so we can continue taking steps to fix our fiscal problems, strengthen the economy, and grow jobs.”

The Senate is expected to vote tonight or Tuesday on the House-passed plan, which will then be sent to the President for final signature.

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