Lawmakers Propose Five-Year Federal Employee Pay Freeze as Part of Spending Cuts
A group of House Republicans today unveiled the Spending Reduction Act which proposes to address the rapidly growing national debt by making substantial spending cuts from more than 100 federal programs and reducing spending levels by $2.5 trillion over the next decade.
"The national debt has grown from $8.6 trillion four years ago to more than $14 trillion today," said Rep. Jim Jordan (R-OH), Chairman of the Republican Study Committee (RSC). "This mountain of debt, nearly the size of our entire economy, threatens to create a whole new financial crisis. Every day we refuse to change course and instill some fiscal responsibility, the problem grows even larger. Unless Washington acts soon to cut spending, massive tax hikes, economic stagnation, and national bankruptcy will rob our children of the opportunity to reach for the American Dream."
An article on GovExec.com released today reports that the measure is
seeking a five-year federal pay freeze and additional workforce cuts in
an effort to rein in spending. (See article at:
A summary of the proposal is availabe from the RSC website (2-page