#LowcountryFirst Pass In Review | June 2, 2023 The Debt Ceiling Vote Hello and happy June! Crazy week here in DC - let’s talk about the debt ceiling vote. First off, Washington is broken and Republicans got outplayed. I voted NO on the debt ceiling debacle because playing the DC game isn’t worth selling out our kids and grandkids. Let’s dive into the bill: This “deal” normalizes record-high spending started during the pandemic. It sets these historically high spending levels as the baseline for all future spending. The bill then grows the government even more each year at about ~1%. After factoring in a small cut to discretionary spending over the next 2 years, we are still talking about ~$6T more or less in spending because of large increases in spending elsewhere. In other words, it’s a wash spending-wise. The government grew massively over the past 3 years. This growth was supposed to be emergency funding only during COVID. During this time, the government grew 40% or by $2 trillion from 2019 to 2023. We went from spending just over $4T to just over $6T. This deal keeps that record-high spending intact and makes it the baseline for all spending. The bill doesn’t actually set a debt limit. Rather it suspends the debt limit entirely until Jan. 2, 2025 and there is no actual amount capping the debt ceiling. Some say there will be a $2T deficit in 6 years, but that CBO guesstimate relies on spending caps that do not exist and are not binding in any way in this deal. And only in DC is a bill clawing back small amounts of unspent COVID funds considered a cut. They tell us this bill cuts $41b in its first year; about the same amount as the unspent COVID funds. Pretty convenient. Also not a cut. And on that note, do we really think the states will send back unspent COVID funds or will they find a way to use the money so they don't have to send it back? Pay-as-you-go has some fine print under Section 265 everyone should read. The OMB director has sole waiver authority to spend if it’s "necessary for program delivery.” So that one line wipes out PAYGO. These words on paper are totally meaningless if you read the fine print. A $1.4b cut to the IRS doesn’t equal $80b in cuts to the IRS. Nor does it mean we are “gutting” the IRS or its 87k new hires. Allegedly there will be a $10b cut-off top for 2024 during the appropriations process. But it’s also not in the bill. That money can be cut anywhere the IRS decides. Work requirements for SNAP moved from age 50 to 54 and student loan forgiveness EO repeal never happened. Not sure why anyone even bothered here. Manchin’s carve out for his pipeline is not germane to the bill. This is just your run of the mill government picking winners and losers in the market and business as usual in Washington. A continuing resolution at 99% in Section 102 only applies to discretionary and provides ample time for an omnibus should all else fail. While we like the intent here, it’s like a Penny Plan for discretionary, but once again, because of how it’s written, it’s meaningless. It also fully funds every spending request by the Administration (pretty much). And a friendly reminder, debt ceilings are about future outlays, future spending, and how it will be financed. It’s not about past spending or past obligations from one Administration to another. Let that sink in. 63% of Americans want Congress to cut spending as part of a debt ceiling deal. This bill doesn’t do that. Washington is, was and always will be lousy at responsibly spending your tax dollars. Wednesday evening I voted with the American people. Disappointed this bill passed is an understatement. But more importantly, I voted with the people. No regrets. Last evening we held Cocktails With Your Congresswoman post debt ceiling vote on Daniel Island at New Realm Brewing. Some constructive discussions and a big turnout! I’ll always make myself accessible to you so you can get answers to your questions directly from me. To stay in the loop on when we hold our events, stay subscribed to our newsletter and follow our Eventbrite page! Also to note, Hurricane Season kicked off yesterday. It’s imperative you and your family have a plan. Look here for more SC and national resources. Our office has recently started a new series called “Sunday Sunsets.” If you live in the district and want to show off your beautiful sunset picture, drop it here. We are always here to assist you with any issues or concerns. Please feel free to reach out to us. It is an honor to serve each and every one of you. Have a great weekend! Sincerely, Congresswoman Nancy Mace Visit My Website DISTRICT DOG OF THE WEEK 🐶 This week's #DistrictDog is Dory. Dory is a one-year-old English Chocolate Lab who loves to take walks, collect sticks and cuddle! 💕 #LowcountryFirst Share your dog here! COCKTAILS WITH YOUR CONGRESSWOMAN - DANIEL ISLAND IN THE NEWS My Vote Is With the American People Watch here Not What the American People Wanted Watch here BEING SOCIAL   SUBSCRIBE Rep. Mace | 1728 Longworth House Office Building, Washington, DC 20515 Unsubscribe [email protected] Update Profile | Constant Contact Data Notice Sent by [email protected]