Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis. For months, Senator Scott has been warning of the dangerous consequences of Washington’s reckless spending and the nation’s rapidly growing debt. As the wasteful, reckless spending of the Biden administration and congressional Democrats leads to growing inflation and rising prices of every day goods, Senator Scott is urging members of Congress to protect the fiscal security of our nation by refusing to increase the debt ceiling unless it is accompanied by true structural spending reform. As Florida’s U.S. Senator, he’s introduced several pieces of legislation to reform Washington’s wasteful spending including the Federal Debt Emergency Control Act and the Full Faith and Credit Act.
Sen. Rick Scott Calls on Colleagues to Pass No Budget, No Pay Proposal
Senator Rick Scott released the below statement ahead of the Senate’s consideration of his and Senator Mike Braun’s No Budget, No Pay proposal. This common-sense No Budget, No Pay proposal requires members of Congress to do their job and work together to pass a budget and meet appropriations bill deadlines, or forgo their own salaries until the job is done.
Senator Rick Scott said, “Americans are sick and tired of Washington’s dysfunction hurting our families, causing economic chaos and inflation with wasteful spending, and government shutdowns that leave members of our Armed Services without paychecks. Families in Florida and across America deserve better. When hardworking Floridians fail at their job, they don’t get a paycheck. Why should Congress live in an alternate reality? If Congress fails at one of its most basic duties – passing a budget – our members shouldn’t get a taxpayer-funded paycheck. Period. Our No Budget, No Pay proposal simply holds Congress accountable and to the exact same standard as the families we proudly represent. I urge all of my colleagues to support this common-sense measure.”
Sen. Rick Scott: I Won’t Let Democrats’ Reckless Spending Drive Inflation & Put Taxpayers on the Hook
Senator Rick Scott spoke on the Senate floor to shine light on the Democrats’ reckless tax-and-spend spree that is already hurting families and businesses with skyrocketing inflation. Even as the President Biden’s inflation crisis rages, Democrats in Washington are pushing forward a partisan $5.5 TRILLION spending bill that will raise the national debt to $45 TRILLION. Senator Scott is fighting for real solutions to address Washington’s debt crisis and put the nation on a financially stable path, specifically with his introduction of the Federal Debt Emergency Control Act and Full Faith and Credit Act.
The Full Faith and Credit Act will ensure the federal government prioritizes funding for our military, veterans and seniors should the federal debt ceiling be reached with no action from Democrats to raise or suspend it. Senator Scott has been demanding that Congress take action to address America’s nearly $30 trillion current federal debt and get the reckless spending which fuels it under control. Senator Scott continues to urge his colleagues to refuse to increase the debt ceiling without also enacting true spending reform.
Sen. Rick Scott to OMB: Taxpayers Still Waiting for Answers on Trillions Allocated for COVID Relief
Senator Rick Scott sent a letter to Office of Management and Budget (OMB) Acting Director Shalanda Young requesting an update on the trillions in tax dollars that has been already allocated to in response to the COVID-19 pandemic. As Democrats in Congress try to push through a $5.5 trillion reckless tax-and-spending spree that will further fuel rising inflation caused by wasteful government spending, Senator Scott is calling for accountability for every single tax dollar spent to ensure it’s in the best interest of Florida families.
Sen. Rick Scott: Democrats’ Socialist Agenda & Tax Increases Will Kill the American Dream
Senator Rick Scott, a member of the Senate Budget Committee, released the below statement on Congressional Democrats’ attempts to impose the largest tax increase on American families and businesses in decades.
Senator Rick Scott said, “Joe Biden and Democrats in Washington are shameless. Once again, they have shown they will do anything it takes to get their liberal, reckless multi-trillion dollar tax-and-spend wish list, even if it’s at the expense of the American people. As inflation rages and families across the nation struggle to keep up with skyrocketing prices, all Democrats want is to spend and tax more. Democrats claim their $2 trillion tax hike will only hit those making over $400,000 — it’s a complete lie. Projections from the Joint Committee of Taxation show that over the next decade the 40-plus tax hikes they are pushing will raise taxes on Americans making over $50,000. Adding insult to injury, the Democrat tax plan hammers small businesses and family farms with a double death tax and hikes the corporate tax rate, stunting American competitiveness on the global market.
“Of course, while Democrats are happy to punish hardworking families and job creators, they’re working hard to protect their rich friends and donors in blue states. That’s right, while small businesses get hammered, Democrats in Washington are bringing back the SALT carve out to let the wealthy in high-tax states like New York and California write off their sky-high state and local taxes, relying on taxpayers from Florida to bail them out. It’s insane. I will NOT let Florida taxpayers foot the bill to bail out blue states from their own failed policies. We need to call this out for what it is: pure and unadulterated systemic socialism from Biden and the Democrats. I won’t stand for it and will keep fighting every day to defeat the big government, high tax and debt-boosting plans of socialist liberals in Washington.”
Sen. Rick Scott: Democrats’ $5.5 TRILLION Tax-and-Spending Spree Drives America to $45 TRILLION Nightmare
Following Senate Democrats’ passage of their $5.5 TRILLION tax-and-spending spree package without any Republican support. The Democrats’ reckless $5.5 trillion tax-and-spending spree is estimated to drive the federal debt to more than $45,000,000,000,000 by 2031 – a more than $15,000,000,000,000 increase in just 10 years.
This comes as the Bureau of Labor Statistics (BLS) this morning released the latest Consumer Price Index (CPI) data showing that inflation has again risen significantly. Year-over-year, consumer prices increased 5.4% in July – matching the troubling increase reported for the 12-month period ending in June 2021, which was the largest 12-month increase since 2008. Annualized, the monthly CPI growth rate reached 5.9% in July.
Senator Rick Scott said, “Under unified Democrat rule, liberals in Washington have welcomed a socialist agenda that is drowning America in debt, fueling a raging inflation crisis and hiking taxes on Florida families. We know that reckless government spending causes higher inflation – raising prices and making life more expensive for every family, especially those on low and fixed-incomes, like mine growing up. Today’s CPI report shows that President Biden’s inflation crisis rages on, hurting more families every day.
“Bernie Sanders’ budget is driving America toward a $45,000,000,000,000 debt nightmare and killing jobs by hiking taxes that hurt every American family. Our nation can’t afford this socialist nightmare. If the Democrats insist on engaging in this reckless tax-and-spending spree, it’s up to them to own what they’ve done, find the courage to face the American people and raise the debt ceiling the same way they’ve passed this unbelievable spending – without a single Republican vote in support.”
Sen. Rick Scott: Biden’s Inflation Crisis Continues to Hurt Florida Families
Following the latest Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS), Senator Rick Scott released the below statement highlighting the need to implement substantive fiscal reforms to end the ongoing inflation crisis fueled by the Biden administration’s tax-and-spend agenda. August’s CPI data shows that there has been a notable increase in inflation every month of Biden’s presidency. Year over year, consumer prices increased 5.3% in August after increasing 5.4% for the 12-month period ending in July 2021.
Senator Rick Scott said, “I can’t say it enough: reckless and wasteful government spending causes inflation, and we’re seeing that play out month after month under unified Democrat rule in Washington. Today’s CPI release shows that for eighth straight months, our nation has experienced significant increases in prices. That’s eight months of families struggling. I grew up poor and saw my parents struggle to stretch every dollar to put food on the table. Now, too many families are going through that same thing in Joe Biden’s America. Every dollar that Democrats add to the debt, every massive, reckless spending package they push forward, only further fuels Biden’s raging inflation crisis. We won’t stand for it, and neither will the American people. The data speaks for itself – America’s credit card is maxed out and it’s past time to get America’s financial situation back under control.”
According to today’s CPI release, all price increases over the year in August were:
• Gasoline: +42.7%
• Used Cars: +31.9%
• Gas Utilities: +21.1%
• New Cars: +7.6%
• Overall CPI: +5.3%
• Electricity: +5.2%
• Food Away from Home: +4.7%
• Transportation: +4.6%
• Apparel: +4.2%
• Core Inflation: +4.0%
• Food at Home: +3.0%
• Shelter: +2.8%
• Medical Care Service: +1.0%
Read more HERE.
Sen. Rick Scott: Congress Cannot Increase the Debt Ceiling Without Major Spending Reform
Senator Rick Scott released the following statement demanding Congress take action to get America’s nearly $30 trillion federal debt under control and urging his colleagues to refuse to increase the debt ceiling without also enacting true spending reform. For months, Senator Scott has been warning of the dangerous consequences of Washington’s reckless spending and the nation’s rapidly growing debt. Today, the Congressional Budget Office released a report highlighting the dire nature of the federal debt crisis.
In April, Senator Scott secured an amendment to the rules of the Senate Republican Conference resolving that any increase in the debt ceiling should be accompanied by cuts in federal spending of an equal or greater amount as the debt ceiling increase, or meaningful structural reform in spending.
Senator Rick Scott said, “America’s nearly $30 TRILLION debt crisis cannot be ignored. Today, I am urging every member of Congress to protect the fiscal security of our nation by refusing to increase the debt ceiling unless it is accompanied by true structural spending reform. We must end the reckless waste of taxpayer dollars.
“We need real spending reform before we consider increasing the debt ceiling. We need reform like my Federal Debt Emergency Control Act, which prevents Washington politicians from mindlessly spending by requiring that two-thirds of the Senate vote to increase the debt before approving any bill. This isn’t political, it’s good government and it’s commonsense. Every fiscally responsible Republican and Democrat should be focused on the debt crisis before us. We cannot allow Congress to continue mortgaging the futures of our children and grandchildren.”
Senators Rick Scott & Pat Toomey Lead Colleagues in Reintroducing Full Faith and Credit Act to Address Federal Debt Crisis
Senator Rick Scott and Senator Pat Toomey were joined by Senators Thom Tillis, Ron Johnson, Mike Braun, Bill Hagerty, Ted Cruz, Kevin Cramer, Shelley Moore Capito, Marco Rubio, John Barrasso and John Hoeven in reintroducing the Full Faith and Credit Act to ensure the federal government prioritizes funding for our military, veterans and seniors should the federal debt ceiling be reached with no action from Democrats to raise or suspend it. Senator Scott has been demanding that Congress take action to address America’s nearly $30 trillion federal debt and get the reckless spending which fuels it under control. Senator Scott continues to urge his colleagues to refuse to increase the debt ceiling without also enacting true spending reform.
Senator Rick Scott said, “Washington’s reckless spending is completely out of control. The United States is nearing $30 trillion in debt and Democrats are pushing a radical, socialist tax-and-spending agenda that will push us to an unimaginable $45 trillion. Too many in Washington have accepted deficit spending, blank checks, tax hikes and skyrocketing inflation as the status quo. We need to be clear: there will be a day of reckoning for this and unfortunately American families will pay the price. It’s time for Congress to take significant action to put our nation back on a path of economic success. I did it in Florida and we can do it in Washington.
“Our bill, the Full Faith and Credit Act, would require the U.S. government to fulfill critical payments to the debt to avoid default and full fiscal calamity if Democrats refuse to take accountability for their wasteful spending and address the debt ceiling. It also ensures Americans depending on Social Security, Medicare, veteran benefits, as well as our service members, are not punished for Washington’s dysfunction. I want to thank my friend and colleague, Senator Pat Toomey, for previously introducing this bill and allowing me the opportunity to lead this effort with him at this critical moment. It’s time for Washington to start living within its means, just like every family and business across the nation does, and preserve the American dream—this bill is a great start.”
Sen. Rick Scott Introduces Federal Debt Emergency Control Act to Fight Washington’s Spending & Debt Crisis
Senator Rick Scott led Senators Ted Cruz, Mike Braun, Marsha Blackburn, Ron Johnson, John Barrasso, Joni Ernst and Tommy Tuberville in introducing the Federal Debt Emergency Control Act to rein in Washington’s out-of-control spending and provide a concrete path forward to tackle the nation’s nearly $30 trillion debt. The Federal Debt Emergency Control Act is endorsed by the National Taxpayers Union, the Council for Citizens Against Government Waste, Americans for Tax Reform, Americans for Prosperity, FreedomWorks, and Club for Growth.
The Federal Debt Emergency Control Act:
• Requires the Office of Management and Budget to declare a “Federal Debt Emergency” in any fiscal year where the federal debt exceeds 100% of that year’s Gross Domestic Product (GDP).
• This emergency designation would trigger several provisions to help control and reduce the federal debt to levels below 100% of GDP, including:
o Terminating any unobligated funding from the American Rescue Plan Act, and any previous stimulus bills, and sending it back to the Treasury General Fund immediately for deficit reduction.
o Requiring all legislation that increases the federal deficit, as determined by the Congressional Budget Office, to carry its own offsets. If it does not, the legislation shall be considered out of order and will require at least two-thirds of all Senators to vote to increase federal debt before even being able to consider the bill.
o Fast-tracking any legislation that would reduce the federal deficit by at least 5 percent over ten years.
Senator Rick Scott said, “America is in a debt crisis. Our nation is barreling toward $30 trillion in debt – an unimaginable $233,000 in debt for every family in America. It’s a crisis caused by decades of wasteful and reckless spending by Washington politicians. Now, President Biden is continuing this way of governing by pushing for trillions in wasteful spending, raising the U.S. federal debt by 60% to $39 trillion and the debt-to-GDP ratio to 117% in 2030, the highest level ever recorded in American history. Spending beyond our means has consequences. We’re already seeing rising inflation, which disproportionately hurts the poorest families, like mine growing up.
“That’s why today, I am leading my colleagues in introducing the Federal Debt Emergency Control Act to rein in Washington’s out of control spending. This includes preventing Washington politicians from mindlessly spending by requiring that two-thirds of the Senate vote to increase the debt before approving any bill. I look forward to every fiscally responsible Republican and Democrat working with me to quickly pass the Federal Debt Emergency Control Act.”
Watch Senator Scott introduce the Federal Debt Emergency Control Act on the Senate floor HERE or below.
Sen. Rick Scott in Orlando Sentinel: GOP Won’t Fuel Inflation Crisis by Raising Debt Limit
Senator Rick Scott wrote an op-ed for the Orlando Sentinel on why Senate Republicans will not support raising the debt ceiling and excuse the Democrats’ massive spending that is already hurting families by fueling a raging inflation crisis. Today, U.S. debt is nearly $30 TRILLION. Under the reckless tax-and-spending spree proposal drafted by socialist Bernie Sanders, Democrat spending would increase federal debt by more than $15 TRILLION, taking it to $45 TRILLION by 2031.
In the op-ed, Senator Rick Scott wrote, “In 2019, Congress voted to suspend the debt limit, letting the federal government rack up unlimited debt for two years. Now, the debt limit suspension has expired and congressional Democrats are pitching this as a decision point with only two options: vote to suspend the debt limit again or increase it.
Republicans won’t stand for it. As spending bills by Democratic leadership rage out of control, we won’t vote to bail them out and cut them more blank checks to bury us in debt, increase America’s interest expense and fuel an already raging inflation crisis hurting families across Florida. It’s time for Democrats to own the debt crisis they created.
Reckless spending has consequences, like rising inflation and growing government interest expenses. Recently, my office heard from a family in Kissimmee who is feeling the impacts of inflation firsthand. They are having a harder time putting food on the table and balancing the ability to keep their vehicle. That’s the effect of this irresponsible and dangerous path the Democrats are on.
With interest rates at historic lows, the U.S. government is already spending nearly $345 billion annually on interest. Instead of funding infrastructure, defense or the environment, nearly $345 billion is just paying interest which provides zero return to American families. As the debt grows, this will only get worse.
How can Congress justify that? No family or business would keep spending more when you can’t afford the bills you already have. In the real world, it’s not the number of checks you have in your checkbook, it’s how much money you have left in the bank. But, for Congressional Democrats, it’s about spending until the checks are gone, ignoring the overdraft warnings, and then ordering more.
It’s time to show President Biden and the liberals that their debt crisis has dangerous consequences that are wasting the hard-earned tax dollars of Florida families. I’ll keep fighting every day to put our nation on a successful path and ensure our future generations have every opportunity to live the American dream.”
Read the full op-ed in the Orlando Sentinel HERE.
Sen. Rick Scott, FGA President in Tampa Bay Times: Approaching debt limit deadline presents golden opportunity for fiscal responsibility
Senator Rick Scott and Foundation for Government Accountability (FGA) President and CEO Tarren Bragdon wrote an op-ed for the Tampa Bay Times on how Senator Scott’s Federal Debt Emergency Control Act can rein in Washington’s out-of-control spending and provide a concrete path forward to tackle the nation’s nearly $30 trillion debt.