Wilson Pleased with Passage of Full Faith and Credit Act
Congressman Joe Wilson (SC-02) released the following statement after the House passed H.R. 807, the Full Faith and Credit Act. This piece of legislation requires the Treasury to follow through with debt payments, removes the threat of national default, and protects our seniors and those with disabilities by granting the authority to continue extending benefits, even if the debt ceiling is not increased.
Wilson stated, “It’s no secret that the federal government spends substantially more than it brings in. Washington has a spending problem, not a revenue problem. As our $17 trillion dollar debt inches closer and closer to our debt limit, House Republicans are determined to rein in spending, while also ensuring the American people and the world economy that defaulting on our loans is not an option.
“Over the past four years, the world has watched as the President waits until he is forced to negotiate with Congressional leadership at the very last minute to address spending cuts. Not only does this habit create more economic uncertainty for job creators during an already sluggish economy, it also creates unnecessary stress for American families.“The passage of today’s legislation provides security for American families, our economy, and our nation’s seniors. House Republicans understand the necessity of being proactive about our out-of-control national debt, rather than being reactionary and risking default. As a cosponsor of this bill, it is my hope that the President and Senate leadership will begin to make this issue a priority and allow this legislation to become law.”