The Largest Deficit Reduction in History

Americans want Washington to spend less. Yet for the past two years, hard-working Oklahomans have been crippled with the consequences of Joe Biden’s reckless government spending, skyrocketing inflation, and high interest rates. In Biden’s economy, families and businesses have been forced to make near impossible choices to keep themselves afloat.

It’s clear that Washington does not have a revenue problem; it has a multi-trillion-dollar spending problem. Thankfully, last November, the American people elected a Republican majority in the United States House of Representatives to be a check on Joe Biden’s out-of-control liberal agenda. Now, Republicans are delivering.


Just last week, Congress passed the largest deficit reduction legislation in American history. Despite negotiating in a divided government, Republicans achieved many conservative victories that will put us in the right direction. 


If there’s one thing I’ve learned after being in business for 25 years, it’s that you must be willing to negotiate to move the ball forward.


For 100 days, Joe Biden refused to come to the table with House Speaker Kevin McCarthy and negotiate a responsible path forward to meet our fiscal responsibilities and address the debt crisis. But, thanks to the relentless work of House Republicans, Congress forced Biden’s hand and took the first step to restore fiscal sanity and hold Washington accountable.


Among many other wins, the Fiscal Responsibility Act reduces the national deficit by $2.1 trillion over the next six years – making it the largest deficit reduction bill in American history.


This legislation cuts spending year-over-year for all discretionary costs, and fully protects veterans’ programs and national defense priorities. It also caps top-line spending at one percent growth for the next six years while preserving Social Security and Medicare. That’s a huge victory.


Republicans also successfully rejected the White House’s request for $5 trillion in new taxes and slashed $400 million from COVID-19 slush funds directed to China. Furthermore, this bill guts funding for Biden’s army of new Internal Revenue Service agents to spy on hard-working Americans.


Importantly, the Fiscal Responsibility Act also secures work requirements for able-bodied adults without dependents who receive federal assistance from the Supplemental Nutrition Assistance Program and Temporary Assistance for Needy Families welfare program, both designed to help those who need the most among us. These commonsense work requirements will allow the American dream to thrive by lifting people out of poverty, getting Americans back to work, and growing the economy. 


From our farmers and ranchers to our diesel truck drivers and domestic producers, increased energy costs under the Biden administration have crippled many Oklahoman’s livelihoods. The Fiscal Responsibility Act cuts bureaucratic red tape and streamlines energy and infrastructure projects, offering the first significant reform to the National Environmental Protection Act (NEPA) since 1982. This reform will save Oklahoma’s domestic producers time and resources on infrastructure projects, often years’ worth of delay, and in turn reducing production and consumer costs. With the passage of the Fiscal Responsibility Act, we are one step closer to regaining U.S. energy independence.


Oklahomans should know that although this bill is far from perfect, it represents a key step to finally get America’s fiscal house in order. As your Senator, I will always fight to cut spending, shrink the size of government, and bring fiscal sanity to Washington.