Biggert Calls Debt Reduction Deal a 'Solid Compromise'

U.S. Rep. Judy Biggert called the debt reduction plan passed by the House of Representatives a “solid compromise.”

Biggert, a Republican who currently represents Downers Grove in Congress, said the plan will put the economy on a stronger path. The plan will allow the debt ceiling to increase the amount of money the nation is allowed to borrow, while seeking $2.1 trillion in spending cuts over the next 10 years.

“It will give Americans the peace of mind they deserve by preventing a default, cutting spending, and holding Congress and the president accountable for spending decisions down the road. Most importantly, it doesn’t raise taxes or give the President a blank check,” Biggert said in a press release.

Biggert said the deal, which has been criticized by both sides of the political aisle, is not a perfect solution. But, she said it is part of the solution and not part of the problem.

“By placing real controls on the debt, we can restore confidence in the economy and generate job growth. That has to be our number one priority, and I appreciate that a majority of my colleagues were willing to do what’s right for the American people and for the economy,” Biggert said.

The vote came one day beefore a deadline for default was declared. The House vote was 269-161.

The bill now heads to the U.S. Senate where it is sure to pass on Tuesday.

According to a report by WLS, the measure establishes a 12-member House-Senate committee that will be charged with producing up to $1.5 trillion in additional deficit cuts over a decade. If the panel succeeds, Congress will be required to vote on the recommendations without possibility of changes. If the panel fails to produce those savings, then spending cuts are to take effect across much of the federal budget, including defense funding, domestic agencies and farm subsidies, as well as payments to Medicare providers. Individual benefits under Social Security, Medicaid, Medicare and programs for veterans and federal retirees would be exempt.

The debt limit will rise by at least another $1.2 trillion.

Additionally, the legislation requires both the House and Senate to vote on a balanced-budget amendment to the Constitution.