WASHINGTON – Today, Congressman David G. Valadao (CA-22) voted in support of the bipartisan Fiscal Responsibility Act. The bill was negotiated by House Republicans, and passed the House with widespread bipartisan support. It limits government spending, reforms the permitting process, holds the executive branch accountable for its spending, and lifts the debt limit through January 1, 2025.  

“Central Valley families adjust their budgets if they overspend – Washington should do the same,” said Congressman Valadao. “This bill avoids a catastrophic default on our debt while limiting government spending, cutting red tape, and holding the executive branch accountable for its spending. Importantly, this bill ensures full funding for our veterans’ programs and national security while protecting Social Security and Medicare. These much-needed spending reforms were only possible because House Republicans under Speaker McCarthy’s leadership were united in passing a plan and forcing President Biden to the negotiating table.”

The Fiscal Responsibility Act:

• Provides the first significant reforms to NEPA since 1982.
• Claws back $28 billion of unspent and unobligated COVID funds.
• Enacts the first ever statutory Administrative Pay-Go to hold the executive branch accountable for the full cost of executive rules and regulations.
• Reduces non-defense discretionary spending by $40 billion in Fiscal Year 2024, the largest non-defense reduction ever.
• Compels a functioning appropriations process by imposing a temporary 99% CR-level cap until all 12 appropriations bills are enacted.
• Rescinds $1.4 billion in funding from the Inflation Reduction Act to hire IRS enforcement agents.
• Prohibits the Administration from further extending the pandemic student loan payment pause, which is currently costing taxpayers roughly $5 billion per month.
• Adjusts the age for work requirements for SNAP’s able-bodied adults without dependents from 18-49 to 54.
• Blocks Biden’s $5 trillion in proposed new tax increases, new government mandates, and new federal programs.
• Ensures full funding for veterans’ programs, Social Security, and Medicare.