The legislation to raise the nation’s debt limit and cap some federal government spending – the Fiscal Responsibility Act of 2023 (FRA) – has passed both chambers of Congress by wide bipartisan margins and will be signed into law by President Biden today. The House approved the bill in a 314-117 voteand the Senate by a 63-36 margin.
In addition to suspending the limit on federal borrowing until January 1, 2025, the legislation’s main provisions include permitting reform under the National Environmental Policy Act (NEPA), the first significant NEPA reforms since 1982; new discretionary spending limits; the “rescission” (cancellation) of some previously approved federal spending; and expansion of work requirements for certain federal aid programs. Read the section-by-section summary here.
Frank Jemley, KAM’s President and CEO, issued the following statement on Tuesday, May 30, supporting the compromise legislation:
“The Kentucky Association of Manufacturers applauds the agreement between President Biden and Speaker McCarthy that has produced the Fiscal Responsibility Act of 2023. By averting a catastrophic default on the fiscal obligations of the United States and producing a genuine compromise on important fiscal and other public policy goals, the legislation is a win for the American economy. For Kentucky and our nation as a whole, we urge the members of Kentucky’s Congressional Delegation to support the bill as written and its passage without delay.”
Here is how the members of Kentucky’s delegation voted on the legislation:
U.S. Representatives
James Comer (KY1): Yes
Brett Guthrie (KY2): Yes, Guthrie’s Statement
Morgan McGarvey (KY3): Yes, McGarvey’s Statement
Thomas Massie (KY4): Yes, Massie’s Statement
Harold Rogers (KY5): Yes, Rogers’ Statement
Andy Barr (KY6): Yes, Barr’s Statement
U.S. Senators
Mitch McConnell: Yes, McConnell’s Remarks
Rand Paul: No
