A bipartisan bill introduced by Sen. Mitt Romney and Sen. Joe Manchin is gaining support in Congress as a potential solution to the growing national debt. The Fiscal Stability Act aims to address the issue by establishing a commission dedicated to finding ways to decrease the current national debt, which stands at over $33.6 trillion. The proposed legislation would require Congress to vote on the commission’s proposed solutions, thereby increasing accountability. Several other senators from both parties have co-sponsored the bill, including Sens. Kyrsten Sinema, Todd Young, Cynthia Lummis, John Cornyn, Thom Tillis, John Hickenlooper, Mark Warner, and Jeanne Shaheen. The Bipartisan Policy Solutions Action, a nonprofit advocating for federal policy, has also commended the senators’ efforts and provided recommendations for the commission’s establishment. Companion legislation has been introduced in the House by Reps. Bill Huizenga and Scott Peters. Former House Speaker Paul Ryan praised Romney and Manchin for their bipartisan collaboration, calling the bill a “good-faith” effort. Interestingly, on the same day the Fiscal Stability Act was introduced, Manchin announced that he would not seek reelection in 2024. In response, Romney expressed his appreciation for Manchin’s dedication to American values. It is worth noting that Romney and Manchin have previously worked together on other legislation, such as the infrastructure bill and pandemic relief. Both senators have expressed their concerns about the national debt and have emphasized the need for immediate action. Romney described it as immoral and unacceptable to burden future generations with the consequences of irresponsible spending. The senators believe that establishing a fiscal commission is a crucial step towards improving the country’s fiscal health and preventing further debt accumulation.
Bipartisan Backing for Sen. Mitt Romney’s Groundbreaking Bill Addressing $33 Trillion National Debt
