Portman, Brown vote in favor of bill to raise debt ceiling
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Following the U.S. House of Representatives' passage Monday of a compromise bill to raise the federal debt ceiling, the Senate has approved the measure in a 74-26 vote Tuesday.
Both of Ohio's U.S. senators, Sherrod Brown and Rob Portman, voted in favor of the bill.
The Senate vote came just in time to avoid an unprecedented default that Treasury officials predicted could happen if Congress didn't raise the $14.3 trillion debt limit by Aug. 2.
Portman, a Cincinnati area Republican, issued the following statement.
“This is a step in the right direction because it begins to address Washington's addiction to higher spending and dangerous levels of debt. It is only a first step and there is more to do, but I support the agreement because for the first time ever it begins to address Washington’s underlying spending problem while raising the debt ceiling and avoiding default.
“I also think it establishes a sound principle of dollar-for-dollar spending cuts for any debt limit increase. If Washington pledges to hold all future debt limit increases to the same dollar-for-dollar standard, America could balance the budget within a decade and do away the annual deficits.
“The fights that Republicans have waged to reduce spending and prevent tax increases have turned the tide in Washington. While I was campaigning for the Senate over the last two years, Washington was debating about how big the stimulus bill and health care bill should be and what sectors of the economy the federal government would intrude upon next. Now, while Washington has miles to go, we’re finally debating how much spending can be cut and what pro-growth reforms to tax, energy, regulations and other policies can be put in place to spur private sector job growth.
“Congress and the President must go further to respond to the fiscal and economic crisis. But the spending and deficit reforms in this agreement are a necessary first step to restore fiscal sanity, spur job growth and get the economy back on track.”
Two Ohio House Republicans, Rep. Mike Turner and Rep. Jim Jordan, voted against the bill.[[In-content Ad]]
Both of Ohio's U.S. senators, Sherrod Brown and Rob Portman, voted in favor of the bill.
The Senate vote came just in time to avoid an unprecedented default that Treasury officials predicted could happen if Congress didn't raise the $14.3 trillion debt limit by Aug. 2.
Portman, a Cincinnati area Republican, issued the following statement.
“This is a step in the right direction because it begins to address Washington's addiction to higher spending and dangerous levels of debt. It is only a first step and there is more to do, but I support the agreement because for the first time ever it begins to address Washington’s underlying spending problem while raising the debt ceiling and avoiding default.
“I also think it establishes a sound principle of dollar-for-dollar spending cuts for any debt limit increase. If Washington pledges to hold all future debt limit increases to the same dollar-for-dollar standard, America could balance the budget within a decade and do away the annual deficits.
“The fights that Republicans have waged to reduce spending and prevent tax increases have turned the tide in Washington. While I was campaigning for the Senate over the last two years, Washington was debating about how big the stimulus bill and health care bill should be and what sectors of the economy the federal government would intrude upon next. Now, while Washington has miles to go, we’re finally debating how much spending can be cut and what pro-growth reforms to tax, energy, regulations and other policies can be put in place to spur private sector job growth.
“Congress and the President must go further to respond to the fiscal and economic crisis. But the spending and deficit reforms in this agreement are a necessary first step to restore fiscal sanity, spur job growth and get the economy back on track.”
Two Ohio House Republicans, Rep. Mike Turner and Rep. Jim Jordan, voted against the bill.[[In-content Ad]]