Rep. Loudermilk: On the Debt Ceiling bill 'Fiscal
Responsibility Act'

Press Release: \Rep. Loudermilk: Republicans take first steps to curb out-of-control big-government spending

Today, Rep. Barry Loudermilk (R-GA) issued the following statement after the House passed the Fiscal Responsibility Act of 2023, H.R. 3746, which constrains out of control big-government spending, as well as raising the debt limit:

“For ninety-seven days, President Biden said he would absolutely not negotiate with Republicans on raising the debt limit, and demanded Congress increase the debt ceiling with no constraints on his ability to spend taxpayers’ money. Given that our nation’s debt currently sits at $31 trillion, and coupled with the fact that this administration has spent $10 trillion in its first two years alone, Republicans were never going to cave to these demands. We stood our ground and forced the president to the negotiating table and delivered on some of the most consequential spending cuts in decades.

In the News: US job growth unexpectedly jumps in May as economy adds 339,000 new positions

Fox Business:

U.S. job growth unexpectedly surged in May, as the labor market remained surprisingly resilient even in the face of rising interest rates, declining economic growth and chronic inflation.

Employers added 339,000 jobs in May, the Labor Department said in its monthly payroll report released Friday, easily beating the 190,000 jobs forecast by Refinitiv economists. That also marks an increase from April, when payrolls increased by an upwardly revised 294,000.

Rep. Loudermilk supports legislation that repeals Biden's rule that penalizes Americans with good credit

H.R. 3564, the Middle Class Borrower Protection Act (Rep. Warren Davidson, R-OH)

This bill would roll back the Federal Housing Finance Agency’s changes to the loan-level price adjustment tables that went into effect on May 1. The FHFA’s changes will force Americans with good credit to pay thousands of dollars in additional fees when purchasing a home to subsidize lower fees for borrowers with bad credit. This bill received a markup in committee on May 24, 2023.

Traveling Soon? Make sure your passport is up-to-date