TPA Joins Coalition Opposing Increased Spending in Exchange for Debt Limit Hike

This week Congressional leaders in both parties and both chambers are looking to raise the debt limit as the US has reached the debt ceiling yet again (last Friday to be exact). Though nothing has been passed, the deal on the table will raise the borrowing limit, which will in turn halt any chance of US default while also giving the Treasury power to borrow more money and drag the nation further into debt. However, the deal may also undo spending cuts (by restoring full cost of living adjustments, or COLAs, to all military retirees under age 62) that was part of the Ryan-Murray Budget deal just a few months ago. The solution to raising the debt limit shouldn’t be used as a way to increase spending or retroactively get rid of unpopular cuts. Congress and the White House should come to an agreement that reduces spending in order to raise the debt limit.  The cycle of  “bipartisan” deals that have increased spending need to be stopped.  These deals have only kicked the can down the road, and left taxpayers holding the bill. To stop this cycle, TPA signed a coalition letter to Congress by Americans for Tax Reform and co-signed by Americans for Prosperity, Citizens Against Government Waste, Coalition to Reduce Spending, Generation Opportunity (GenOpp), and National Taxpayers Union urging Congress to reject any deal that trades a raise in the debt limit in exchange for increased spending.

Read the full letter below:

February 10, 2014

Conservatives Oppose Reported Debt Limit Deal

A strong coalition of conservatives oppose the plan to increase spending as a part of the debt ceiling negotiations:

On the behalf of the millions of taxpayers and concerned citizens represented by our organizations, the undersigned groups are united in opposition to the House’s reported debt limit deal.

The House is considering increasing the debt limit in exchange for higher government spending.  Mandatory spending cuts scheduled under current law would be wiped out.

This new spending in the debt limit deal would be offset in the ten-year budget window by new spending caps. Over the longer run, however, permanent mandatory savings worth tens of billions in taxpayer dollars would be eviscerated.

While our groups have advocated different approaches for fighting the growth of government in the past, we are united in opposition to a plan that would squander the leverage of the debt limit in exchange for increased spending. We urge you to oppose this reported debt limit deal.

Americans for Tax Reform, Grover Norquist, President

Americans For Prosperity, Brent Gardner, Director of Federal Affairs

Citizens Against Government Waste, Tom Schatz, President

Coalition to Reduce Spending, Jonathan Bydalk, President

GenOpp, Evan Feinberg, President

National Taxpayers Union, Duane Parde, President

Taxpayers Protection Alliance, David Williams, President