Statement on House GOP Proposed Debt Limit Plan
Research!America is disappointed in the proposed debt limit plan offered by House GOP leadership this afternoon.
The Limit, Save, Grow Act of 2023 calls for a $130 billion cut to be taken entirely from just one category of federal spending – discretionary funding. Not only does discretionary funding account for less than a third (28%) of the annual budget, but it is the portion of the budget that supports national defense, medical research, science and technology (S&T) competitiveness, and other fundamental American priorities.
Chinese President Xi Jinping recently affirmed S&T investment as a top strategic priority: “We must regard science and technology as our primary productive force, talent as our primary resource, and innovation as our primary driver of growth.”
According to a public opinion survey Research!America commissioned in January 2023, 77% of Americans are concerned China will surpass the U.S. as the world’s leading S&T power. Notably, 6 in 10 Americans – a majority across party lines – believe Congress should invest more taxpayer dollars to advance S&T in the U.S.
Cuts of the magnitude proposed in the House GOP debt ceiling plan would leave the U.S. without the means to accelerate medical progress, remain competitive against China and other growing global economies, or retain unrivaled national defense capabilities.
We urge Congress and the Administration to work on a bipartisan basis to address the debt limit in a manner that ensures current budget decisions advance rather than abandon the best interests of our nation and of the American people.
Contact Tim Haynes, Senior Director of Communications, at 571-482-2737 or thaynes@researchamerica.org with press inquiries.