By Phillip Bailey
Louisville, KY – Senate Minority Leader Mitch McConnell is urging his colleagues to support the "Cut, Cap and Balance" plan being proposed in the Republican-controlled House of Representatives. The bill seeks to curb government spending by cutting spending by $111 billion and capping federal expenditures to 20 percent of the nation's gross domestic output. The legislation also seeks to send a balanced-budget constitutional amendment to the states for ratification. McConnell says members of the House are making tough but necessary choices to avoid a government default before the August 2 deadline.
"They'll show with their votes whether they believe in freezing Washington's current spending habits in place, and raising job-killing taxes or whether they believe, as I do, that the reckless spending and debt of the past two years has brought us to this point of crisis. And that something serious must be done to rein it in without damaging a fragile economy with job-killing taxes. It's that simple," he says.
The measure is expected to pass the House, but has very little chance of passing the Democratic-controlled Senate. President Barack Obama has vowed to veto the legislation if it reaches his desk.