Duval Times

As the national debt approaches $35 trillion, Senator Rick Scott released a weekly update on his actions to address the debt crisis and rising inflation in the United States. Earlier this month, Senator Scott joined Senator Mike Braun, both members of the Senate Budget Committee, to introduce three bills aimed at increasing transparency regarding federal government spending and addressing the unsustainable national debt. Following the introduction of these legislative packages, Senators Scott and Braun issued the following statements.

Senator Rick Scott stated, "While Washington's wasteful spending is increasing our enormous national debt of $35 trillion, our net interest costs amount to nearly $900 billion, more than our defense budget wasted without return for American taxpayers. It is unsustainable and irresponsible. Every dollar that Washington politicians add to our national debt makes it harder for families to live their American dream. Under the reckless agenda of Democrats, prices keep rising, interest rates keep rising, and taxes keep rising, but Democrats want to dig deeper into the economic hole. I am proud to join Senator Braun in presenting these solutions so that we have a plan to address the enormous debt that is crippling Americans everywhere before it's too late, and I urge the Senate to consider them immediately."

Senator Mike Braun added: "We are on a path toward financial destruction because the federal government keeps spending money we don't have. Congress needs firm barriers because they keep spending more than we bring in. These budgetary bills presented today will help restore fiscal sanity."

Senator Scott joined Senator Braun in introducing the following bills:

The Fiscal State of Nation Act is a bipartisan bill providing lawmakers with current nonpartisan data on the nation’s fiscal health so they can make fiscally responsible decisions. Specifically, it requires the Comptroller General to address a joint hearing on the House and Senate Budget Committees each year and present the Financial Report of the United States Government to provide an analysis of the nation’s fiscal state.

The House legislation was introduced by Rep. Blake Moore.

Additional cosponsors include Sen. Joe Manchin, Sen. Jackie Rosen, Sen. Marsha Blackburn, Sen. Roger Marshall, and Sen. Pete Ricketts.

The Improper Payments Transparency Act increases reporting requirements by mandating clear data on improper payments in the President’s annual budget request each year. In FY 2023, federal agencies reported $236 billion in improper payments; however, due to insufficient reporting requirements, true scale remains unknown.

The House legislation was introduced by Rep. Rudy Yakym.

Additional cosponsors include Sen. Jackie Rosen, Sen. Marsha Blackburn, Sen. Roger Marshall and Sen Pete Ricketts.

The Debt-to-GDP Transparency and Stabilization Act requires including the debt-to-GDP ratio in President’s annual budget which provides context for debt size relative to national economic output and repayment ability.

The House legislation was introduced by Rep Lloyd Smucker.

Additional cosponsors include Sen Roger Marshall and Sen Thom Tillis

Since being elected to U.S Senate Senator Scott has repeatedly urged measures addressing America's debt crisis effects of inflation Click HERE for complete list statements actions urgent topic HERE view Quarterly Economic Outlook from Senator Scott