On April 19, 2023, U.S. Representative Wiley Nickel (NC-13), along with other members of the Problem Solvers Caucus, unveiled a bipartisan debt ceiling framework.
The Problem Solvers Caucus, a bipartisan working group equally divided between Democrats and Republicans, is committed to finding common ground and putting forth solutions. In such a closely divided Congress, the only real solutions are bipartisan solutions, and the Problem Solvers Caucus has been integral in moving common sense legislation forward.
The bipartisan debt ceiling framework, endorsed by Representative Nickel and over 75% of the Problem Solvers Caucus, proposes steps to avoid defaulting on the national debt, advance a sustainable budget, and address the nation’s long-term fiscal stability.
“The path to 218 votes on the debt ceiling doesn’t come from the far-left or the far-right, it comes from the center through proposals like the one we’re putting forward today, ” said Rep. Nickel. “This reasonable and responsible framework will prevent the United States from defaulting on our debt while also ensuring Congress takes short-term and long-term steps to address spending and balance the budget. As we look ahead to the rest of the 118th Congress, I’m firmly committed to working with my Problem Solvers Caucus colleagues and members across the aisle to find solutions for the most pressing issues facing our nation.”
The framework calls for a temporary suspension of the debt ceiling through December 31, 2023 to remove short-term pressure of defaulting on the nation’s debt, and would allow time to complete the Fiscal Year 2024 budget and appropriations cycle.
The framework also proposes the creation of a fiscal commission and the implementation of interim deficit stabilization controls for the FY24 budget and appropriations to help stabilize the nation’s long-term budget.
Finally, the framework proposes the adoption of bipartisan budget reform recommendations from the House Committee on Modernization and Joint Committee and Appropriations Process Reform, which includes the return of regular order for budget and appropriations, an annual fiscal state of the nation report issued by the Comptroller General, and a mid-year report on the nation’s budget issued by the President.
The full Problem Solvers Caucus Debt Ceiling Framework can be found HERE.
Original source can be found here.
