Limit, Save, Grow Act Reduces U.S. Debt and Fosters Personal Responsibility
For immediate release: April 24, 2023
Washington, D.C. – Today, CURE sent the following letter to members of the U.S. House of Representatives:
This week the House of Representatives will consider the Limit, Save, Grow Act to address our national debt, reduce future spending, and repeal ill-advised policies that are creating moral hazard, fueling inflation, and causing greater dependence on China. The Center for Urban Renewal and Education (CURE) supports the Limit, Serve, Grow Act and encourages your support of this measure.
The Limit, Save, Grow Act appropriately caps discretionary federal spending and calls for pro-growth deregulatory policies. It rescinds tens of billions of dollars in unobligated COVID funds and restores commonsense work requirements for welfare programs.
This important legislation would stop President Biden’s unfair and fiscally irresponsible student loan giveaways. By fostering the idea that students should not repay their debts, President Biden is encouraging irresponsible behavior that has a corrosive effect on our culture. This can only encourage future borrowers to take inappropriate risks and universities to raise tuition costs even further. The Biden policy also transfers a fiscal burden to taxpayers, including low and middle-income Americans who have conscientiously repaid their student loans and other debts.
By eliminating market distorting green tax credits, the Limit, Save, Grow Act will save taxpayers billions of dollars and help prevent further dependency on China for the materials needed to produce electric car batteries, solar panels, and other ‘green’ technologies. Many of the tax credits being repealed will go to wealthier individuals who can afford expensive energy products without taxpayer-funded assistance. Low and middle-income taxpayers should not be forced to subsidize these wealthier individuals, especially when they will still not be able to afford electric cars and related technologies.
The Limit, Save, Grow Act repeals and redirects the $80 billion sent to the IRS through the misnamed Inflation Reduction Act. In addition to reducing our national debt, this legislation will help enhance border security and improve taxpayer services at the IRS.
Congress should stop President Biden’s reckless expansion of government that fuels inflation, undermines personal responsibility, and puts our banking system at risk. The Limit, Save, Grow Act takes important steps in the right direction and deserves your support.
Star Parker Marty Dannenfelser
President VP, Government Relations & Coalitions