Duval Times

As the national debt approaches $35 trillion, Senator Rick Scott has released a weekly update on his efforts to address America's debt crisis and rising inflation. Earlier this month, Senator Scott, alongside Senator Mike Braun, introduced three bills aimed at increasing transparency on federal spending and addressing the unsustainable national debt. Both senators are members of the Senate Committee on the Budget.

Senator Rick Scott stated, "While Washington's wasteful spending is fueling our massive $35 trillion national debt, our net interest costs total nearly $900 billion—that is more than our defense budget wasted with no return for American taxpayers. It is unsustainable and irresponsible. Every dollar Washington politicians add to our national debt makes it more difficult for families to live their American Dream. Under Democrats' reckless agenda, prices keep going up, interest rates keep going up, and taxes keep going up, but Democrats want to dig the economic hole deeper. I am proud to join Senator Braun to introduce these solutions so we have a plan to tackle the massive debt that is crippling Americans everywhere before it’s too late, and I urge the Senate to immediately consider them."

Senator Mike Braun added, "We’re on the path to financial destruction because the federal government keeps spending money we don’t have. Congress needs firm guardrails because they won’t stop spending more than we take in. These budget bills I am introducing today will help restore fiscal sanity."

The introduced bills include:

1. The Fiscal State of Nation Act: A bipartisan bill requiring the Comptroller General to present an annual Financial Report of the United States Government at a joint hearing of the House and Senate Budget Committees. This aims to provide lawmakers with current nonpartisan data on the nation's fiscal health.

- House legislation by Rep. Blake Moore.

- Additional cosponsors: Sen. Joe Manchin, Sen. Jackie Rosen, Sen. Marsha Blackburn, Sen. Roger Marshall, Sen. Pete Ricketts.

2. The Improper Payments Transparency Act: This act increases reporting requirements for improper payments in the President’s annual budget request.

- House legislation by Rep. Rudy Yakym.

- Additional cosponsors: Sen. Jackie Rosen, Sen. Marsha Blackburn, Sen. Roger Marshall, Sen. Pete Ricketts.

3. The Debt-to-GDP Transparency and Stabilization Act: Requires inclusion of the debt-to-GDP ratio in the President’s annual budget.

- House legislation by Rep. Lloyd Smucker.

- Additional cosponsors: Sen. Roger Marshall and Sen. Thom Tillis.

Since his election to the U.S Senate, Senator Scott has consistently called for action on America's debt crisis and inflation issues.