RSC Readies Debt Limit Proposal

Posted May 4, 2011 at 11:01am

House conservatives are putting together their own set of principals on the debt limit. The proposal, which they hope to release in the near term, comes as Republican leaders have begun listening sessions with lawmakers on raising the debt ceiling.

“We’re looking at coming up with a plan that makes sense, that changes the game and frankly rises to the occasion of how serious it is,” Republican Study Committee Chairman Jim Jordan said Tuesday in an interview with Roll Call. “The purpose of the debt ceiling for the RSC has been real spending cuts now.”

The group is set to meet Wednesday afternoon to continue the discussion.

“The gravity of this situation is huge,” Jordan said. “It is that important, that serious that you’ve got to have real game-changing kind of things done. If those are done, I think conservative Members could possibly support [raising the debt ceiling], but they’ve got to be big changes.”

The Ohio Representative said the group has considered including Budget Chairman Paul Ryan’s (R-Wis.) budget, spending caps and a balanced budget amendment to the debt limit package.

Jordan sent a letter last Friday detailing short-term, mid-range and long-term goals RSC members have discussed. The letter focused largely on immediate and long-term spending cut proposals, including a fundamental change to the way the government collects and spends taxpayer dollars.

Jordan is working with RSC Budget and Spending Task Force Chairman Scott Garrett (N.J.) on a letter to GOP leadership outlining a “three-point plan to earn support for a short-term extension of borrowing authority,” according to the letter.