Deb Fischer on Budget & Economy

Congress spends every dime they can get their hands on

Fischer shot back that without controls on congressional spending, politicians "will spend every dime they can get their hands on," adding that Nebraska has a constitutional requirement to balance its budget every year.

"First of all, you balanced the budget in 2009 and 2010 with Nebraska's share of federal stimulus money," Kerrey retorted. "That was the second highest use of stimulus money to balance the budget of any state in the nation. The federal government would not have that flexibility under the Fischer plan, under her constitutional amendment."

Balanced budget amendment forces tough decisions on cuts

FISCHER: I support a balanced budget amendment. Here in Nebraska we balance the budget every year. It's required by the [Nebraska] constitution. We need to do that at the federal level as well. Any time that you don't have controls on Congress, on spending, on politicians, they will spend every dime that they can get their hands on. We need to make the tough decisions, we need to control spending, that's how we can move this country forward.

Make the Bush tax cuts permanent

A: We need to reform and stabilize the tax code in a comprehensive and deliberate manner, making it simpler for small business and individuals to plan for the future. We must make the Bush tax cuts permanent, eliminate the estate tax and the alternative minimum tax, and close corporate loopholes while reducing the overall corporate tax rate.

Strongly support a federal balanced budget amendment

Supports a constitutional BBA.

Christian Coalition publishes a number of special voter educational materials including the Christian Coalition Voter Guides, which provide voters with critical information about where candidates stand on important faith and family issues. The Christian Coalition Voters Guide summarizes candidate stances on the following topic: "Passage of a Balanced Budget Amendment to the U.S. Constitution"

Supports the Cut-Cap-and-Balance Pledge.

[The Cut-Cap-and-Balance Pledge is sponsored by a coalition of several hundred Tea Party, limited-government, and conservative organizations].

Despite our nation's staggering $14.4 trillion debt, there are many Members of the U.S. House and Senate who want to raise our nation's debt limit without making permanent reforms in our fiscal policies. We believe that this is a fiscally irresponsible position that would place America on the Road to Ruin. At the same time, we believe that the current debate over raising the debt limit provides a historic opportunity to focus public attention, and then public policy, on a path to a balanced budget and paying down our debt.

We believe that the "Cut, Cap, Balance" plan for substantial spending cuts in FY 2012, a statutory spending cap, and Congressional passage of a Balanced Budget Amendment to the Constitution is the minimum necessary precondition to raising the debt limit. The ultimate goal is to get us back to a point where increases in the debt limit are no longer necessary. If you agree, take the Cut, Cap, Balance Pledge!

I pledge to urge my Senators and Member of the House of Representatives to oppose any debt limit increase unless all three of the following conditions have been met:
1. Cut: Substantial cuts in spending that will reduce the deficit next year and thereafter.
2. Cap: Enforceable spending caps that will put federal spending on a path to a balanced budget.
3. Balance: Congressional passage of a Balanced Budget Amendment to the U.S. Constitution -- but only if it includes both a spending limitation and a super-majority for raising taxes, in addition to balancing revenues and expenses.

Voted YES on $900 billion COVID relief package.

NPR summary of HR133:

• $600 checks for every adult and child earning up to $75,000, and smaller checks if earning up to $99,000.
• Unemployment: extend enhanced benefits for jobless workers, $300 per week through March.
• Rental assistance: $25 billion to help pay rent; extends eviction moratorium until Jan. 31.
• SNAP assistance: $13 billion for the Supplemental Nutrition Assistance Program.
• PPP loans: $284 billion for Paycheck Protection Program loans, expanding eligibility to include nonprofits, news/TV/radio media, broadband access, and movie theaters & cultural institutions
• Child care centers: $10 billion to help providers safely reopen.
• $68 billion to distribute COVID-19 vaccines and tests at no cost.
• $45 billion in transportation-related assistance, including airlines and Amtrak.
• $82 billion in funding for schools and universities to assist with reopening
• $13 billion for the Coronavirus Food Assistance Program for growers and livestock producers.

Argument in opposition: Rep. Alex Mooney (R-WV-2) said after voting against H.R. 133: "Congress voted to spend another $2.3 trillion [$900 billion for COVID relief], which will grow our national debt to about $29 trillion. The federal government will again have to borrow money from nations like China. This massive debt is being passed on to our children and grandchildren. With multiple vaccines on the way thanks to President Trump and Operation Warp Speed, we do not need to pile on so much additional debt. Now is the time to safely reopen our schools and our economy. HR133 was another 5593-page bill put together behind closed doors and released moments prior to the vote."

Legislative outcome: Passed House 327-85-18, Roll #250, on Dec. 21. 2020; Passed Senate 92-6-2, Roll #289, on Dec. 21; signed by President Trump on Dec 27 [after asking for an increase from $600 to $2,000 per person, which was introduced as a separate vote].