Rep. Austin Scott on Debt Limit Vote
WASHINGTON, DC – Congressman Austin Scott (GA-08) released the below statement upon voting against a temporary debt limit increase. Rep. Scott asserts that the Biden Administration and Congressional Democrats are raising the debt limit without addressing their out-of-control spending or the country’s fiscal issues.
“Despite new reports that revenues jumped 18% in the fiscal year that just ended, House Democrats passed a measure tonight to increase the country’s debt limit by nearly $500 billion to help pay for their liberal agenda,” said Rep. Scott. “They continue to spend like there is no tomorrow while blaming everyone but themselves for the mess they’re creating. The facts and numbers speak for themselves. This is a crisis they manufactured. They own this.”
The bill passed today would raise the country’s current $28.4 trillion debt limit by $480 billion. The Treasury Department estimates this increase is enough to allow the government to continue borrowing through December 3, 2021. Treasury Secretary Janet Yellen estimated that the country would have exceeded the debt limit on October 18, 2021 without any action from Congress.
Congress will again have to address the debt limit later this year by either paying down the debt, raising the debt limit again, or risk defaulting.