One year ago, the One Big Beautiful Bill Act was made law. Since then, it has added more than $4.5 trillion in new debt. Then, after a months-long shutdown at the Department of Homeland Security, the Republican majority chose to run up another $70 billion on the national credit card for ICE and CBP.
This third reconciliation bill would give even more money for the Pentagon to refill its coffers as President Trump’s war in Iran rages on, provide some aid to farmers and the agricultural industry, and fund “election security” to appease President Trump.
It would also add more than $100 billion in new debt. That is the opposite of fiscal responsibility. That's compulsive borrowing.
When the federal government borrows like this, it competes with everyone else for loans, so interest rates go up. This applies to home loans, car loans, small business loans, and credit cards. And it hurts every family in CA50 and across the nation. We already spend more on interest payments than on Medicaid or on our own children. Every dollar of that interest is a dollar we don't have to actually lower costs for people.
For three years now, I have led the Fiscal Commission Act with Rep. Bill Huizenga (MI-04) to right the ship and put our country on a better fiscal path. Our bill would help us tackle our nation’s long-term debt, avoid automatic and across-the-board cuts to Social Security and Medicare, and secure a more prosperous future for our children. Instead of advancing my legislation and doing the hard work to confront our fiscal crisis honestly, President Trump and Republican leadership hand us yet another reconciliation bill that will make our situation worse.
In 2021, I stood up to my own party in reconciliation when I thought what we were doing was bad policy. I took criticism for it, but I stood up for what I believed in and did what was right for San Diego, not just what the President and the Speaker asked of me. At the end of the process, the bill got better because of that stand we took. Today, I urge my Republican colleagues to stand up for what they used to believe in – fiscal responsibility and a federal deficit we can reasonably manage.