Fiscal and Economic

Duffy Amendment to H.R. 3442
February 11, 2016

Mr. Speaker:

The law that established the Treasury Department instructs it to manage the revenue and support the public credit. This includes prioritizing payments to assure the national debt is always honored, as the Constitution commands. Without this, a stalemate on the debt limit could endanger the nation’s credit.

Congressman McClintock participated in a Financial Services Committee hearing held to examine "Unsustainable Federal Spending and the Debt Limit." The Congressman is the author of H.R. 692, the Default Prevention Act. The Congressman's default prevention legislation passed the House of Representatives on October 21, 2015. In the remarks delivered at the Financial Services hearing the Congressman discussed debt and the nation's credit:

Congressman McClintock was the guest speaker at the Auburn Chamber of Commerce's Installation and Awards Dinner on January 15, 2016. The Congressman delivered the following remarks on the intersection of free markets, commerce and industry:

Auburn Chamber of Commerce
Auburn, California
January 15, 2016

Congressman McClintock testified at a hearing of the House Rules Committee on January 16th, 2016 about the beneficial aspects of annual versus biennial budget bills. The Congressman serves on the House Budget Committee, which has begun a comprehensive review of the budget process.

Congressman Tom McClintock
Testimony to House Rules Committee
January 6, 2016

Mr. Chairman:

House Amendment 1 to HR 2029 – Omnibus Spending Act: NO. This is the 2,000-plus page $1.15 trillion spending act to fund the government through September 30, 2016. A bill of this complexity always has good and bad provisions, and the question comes down to whether in balance it moves the government in the right direction.

House Amendment 2 to HR 2029 – Tax Extenders Act: YES. Called the "Protecting Americans from Tax Hikes Act" this 233-page bill provides a complex list of changes to the tax code. Once again, there is both good and bad.

H.R. 1314 – Bipartisan Budget Act of 2015: NO. M. Stanton Evans once observed that there are two parties in our country: the evil party and the stupid party, and when they adopt a bipartisan measure it is usually something evil and stupid. This deal replaces the budget that Congress enacted in May, which pointed the country back toward fiscal solvency, with a plan that puts us on a trajectory that never balances.