The Republican-controlled House of Representatives will act next week on the Cut, Cap, Balance Act, GOP lawmakers announced in a press conference Friday morning.
Not only did Republicans announce the introduction of the Act, but Representatives from Kevin McCarthy of California, Speaker John Boehner of Ohio, Majority Leader Eric Cantor of Virginia and Tom Price of Georgia called on President Obama to “put a real plan on the table” to address fundamental reform and enact serious spending cuts. (August 2 not a hard deadline on debt limit)
In doing so, House Republicans put the spotlight on Democrats and the president for never putting any real plan to paper. The Republican message is, “We’ve done that.”
“Time and time again Republicans have offered serious proposals,” said Speaker Boehner, pointing to the budget proposal offered by Wisconsin Rep. Paul Ryan. “I think it’s time to for Democrats to get serious as well.”
Boehner also reiterated that tax hikes of non-starters and any deal needs to come with real reforms that restrains the growth of spending in the coming years.
Cantor responded to accusations that Republicans have been too stubborn throughout negotiations, refusing to meet the President’s compromise on spending cuts in exchange for some tax hikes. “Reports have indicated that somehow Republicans haven’t given,” said Cantor. “I tell you, that’s just not true.”
“We want to change the system here,” the Majority Leader added. “We want to be able to go home to the people who elected us and show them we’re not going to allow this kind of spending to continue.”
The Cut, Cap, Balance, said Cantor, will “provide a balanced approach so we can demonstrate that we are getting things under control.”
“We will take this bill out of the House,” said McCarthy, the Majority Whip.
House Minority Leader Nancy Pelosi reacted to the Republicans by accusing the GOP of walking away from Obama’s large package and trying to cut the deficit on the backs of “Social Security and Medicare recipients.”
“We support our President on a grand bargain and hope that can still happen,” said Pelosi. “Whatever happens, we will not be reducing benefits for Medicare and Social Security recipients.”
The Cut, Cap, Balance Act ties a vote on raising the $14.3 trillion debt ceiling to spending cuts and caps and the ratification of a balanced budget amendment. The Senate version of the bill gained traction Thursday when Minority Leader Mitch McConnell added his name to the list of co-sponsors.