Washington, D.C. – Congressman Michael C. Burgess, M.D. (R-TX), a member of the House Rules Committee, managed theRule debate for S.J.Res.33 a bill that would raise the debt ceiling.

As prepared for delivery:
"This rule provides for consideration of S.J.Res. 33, a bill to raise the debt ceiling by $2.5 trillion. The federal debt limit began in 1917 and has required raising over 100 times since then.

"The problem isn’t whether we should increase our debt limit, it is that we must issue debt at all. Debts are issued to cover the difference between revenues and outlays. When you spend more than you make, you must find a way to pay for that spending.

"We are in the middle of a spending spree, with well over $1 trillion in taxpayer money spent on largely partisan priorities and more likely coming if the Democrats manage to get a final agreement on their Build Back Better Act, more aptly named the Socialist Spending Scam. On December 10th, the Congressional Budget Office published an estimate of the Build Back Better Act, confirming the bill’s true cost to be $4.9 trillion while adding $3 trillion in new debt.

"Democrats claim this bill is paid for, but this is simply not true, and now it is confirmed by independent analysis. Instead of zero dollars, this bill will create a carveout for deducting State and Local Taxes that will add $245 billion to the deficit. It will protect “green” companies from a new minimum tax and provide a $12,500 tax credit for purchasing an electric vehicle – but only if the vehicle is made using union labor.

"The bill will also provide billions in benefits to the wealthy through the expanded Child Tax Credit that will add $1.6 trillion to the deficit if made permanent – which the Democrats are pushing for.

"Additionally, the $1 trillion infrastructure bill that Democrats just ushered into law requires a $118 billion transfer from the Treasury to the Highway Trust Fund, which Treasury Secretary Janet Yellen has stated will occur tomorrow, December 15th.

"Republicans will not support raising the debt limit while Democrats push through trillions of dollars for partisan social spending and deplete our treasury.

"Unfortunately, all of this spending will only exacerbate the high rate of inflation under which many Americans are suffering. According to the Bureau of Labor Statistics, in November, the Consumer Price Index rose by 0.8% and rose by 6.8% over the last 12 months. The most significant increase was in the energy sector, while prices went up for gas, food, shelter, and vehicles, among other things.

"Despite repeated encouragement from Budget Committee Ranking Member Jason Smith and Senator McConnell, Democrats refused to raise the debt ceiling through reconciliation. They had ample time to do so, but would not.

"Instead, Congress passed a temporary extension that only lasted a couple of months. We are now once again having to vote on a bill to increase our national debt in order to pay for Democrats' social spending and infrastructure policies.

"Democrats claim raising the debt limit has always been bipartisan, but let me go through some history. In 1993, Democrats used reconciliation to raise the debt limit with a party line vote on their Omnibus Budget Reconciliation bill. In 2010, the Democrats again increased the debt limit by $1.9 trillion along party lines. Republicans voted in opposition out of concern for Obama Administration spending programs. A New York Times article reporting on the vote stated, “They wanted to raise the debt ceiling enough to avoid putting their members through another such vote before the midterm elections.” I can’t help but feel like history is repeating itself.

"Financial success and longevity begin years before they are realized. We must not be reckless with our nation’s financial future now.

"Under no argument is this plan fiscally responsible, beneficial to the American people, or demonstrative of representative government. We should not be raising the debt limit to allow for the continuation of partisan social spending."

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