Budget/Fiscal Responsibility

Congressman Matheson is committed to fiscal discipline.  He believes that, like Utah families do each day, the federal government must be responsible - living within its means and balancing its budget.  It is fiscally reckless and morally wrong to pile debt on future generations.  The time is now to act.  Our nation’s current fiscal path is unsustainable and the consequences are grave: slower economic growth, higher interest payments on the debt, less flexibility to address important needs or future emergencies.  The plan to address this challenge must be ambitious, pro-growth and address all areas of the budget.

As a leader in the conservative Blue Dog coalition—a group of Democrats committed to ensuring the financial stability and national security of the U.S., Matheson has supported efforts to promote accountability by government agencies, the implementation of pay-as-you-go budget enforcement rules that prevent deficit spending, a balanced budget amendment to the Constitution and the elimination of duplicative or wasteful programs and spending.

Deficit reduction, spending caps and a plan forward

Matheson joined a bipartisan majority of Republicans and Democrats Aug 1, 2011, in support of S. 365--The Budget Control Act of 2011. The bill provides for $2.4 trillion in deficit reduction. The initial $900 billion in savings is achieved primarily by capping discretionary spending each year. It creates a bipartisan, bicameral 12-member committee to develop a plan for an additional $1.5 trillion in deficit reduction to be voted on by the end of 2011. Should Congress fail to enact that level of savings, a “trigger” would force automatic spending cuts in both national defense and mandatory spending. It also requires both chambers to vote on a balanced budget amendment to the Constitution by the end of 2011.  It does not increase taxes nor harm Social Security.  It reflects Matheson’s long-standing deficit reduction principles of cutting spending, capping spending and support for a balanced budget amendment.

Stop automatic salary increases for Congress

From his first year in Congress, Congressman Matheson has led the fight on the House floor for an open, up-or-down vote on the automatic pay raise accorded Members. The secrecy of an automatic salary increase is wrong and prevents a debate on whether Congress deserves a pay raise.  Matheson has also introduced legislation to require a vote in the House of Representatives before any increase to Members’ salaries.

Balanced Budget amendment

Our record-setting federal deficits and debt require we make serious reforms to the budget process in Congress. One reform Congressman Matheson has long supported is a balanced budget amendment to the Constitution. Every Utah family and small business owner understands the concept of living within your means.  Forty-nine out of 50 states are required to adopt a balanced budget.  Passage would be more than symbolic:  it would have a powerful impact on Federal fiscal policies by establishing a binding legal framework forcing Congress to make challenging decisions. Here is the balanced budget amendment that Matheson recently supported.