Murkowski Supports the Fiscal Responsibility Act

Averts Imminent Default, Improves Nation’s Fiscal Trajectory, Continues to Reform the Federal Permitting Process

U.S. Senator Lisa Murkowski (R-Alaska) released the following statement after voting for the Fiscal Responsibility Act, which reflects the bipartisan agreement Speaker Kevin McCarthy and President Joe Biden reached to limit federal spending and avert a default on the nation’s debt:

“I voted for the Fiscal Responsibility Act because it is the only way to avoid a default on the national debt just four days from now. While both the bill itself and the process that led to it were far from perfect, it will avert an economic disaster, protect the full faith and credit of the United States, and slightly improve our nation’s fiscal trajectory.

“While the Fiscal Responsibility Act fully funds veterans programs in Fiscal Year 2024, I do not believe it adequately supports the defense budget. After speaking with colleagues on both sides of the aisle, however, I believe there will be sufficient support to pass a supplemental later this year that better addresses our security needs, including continued support for Ukraine.

“I also see this measure as a series of first steps, not final agreements. It leaves us with more work to do to address our debt, reduce the spiraling costs associated with it, and begin to improve the federal permitting process. Beyond the incremental progress the Fiscal Responsibility Act makes, I hope it will build trust and create space for further bipartisan agreement in these critical areas.”

The Fiscal Responsibility Act does not cut Social Security, Medicare, Medicaid, defense or veterans spending, but the Congressional Budget Office has estimated it will reduce federal deficits by at least $1.5 trillion over the next ten years. After previously passing the House by a margin of 314-117, the measure passed the Senate through a bipartisan vote of 63-36 and now goes to the President’s desk for signature.