Several Republicans last week launched the Bipartisan Fiscal Forum (BFF) in an effort to help reign in the nation’s rising debt and set a path forward for a solid fiscal future.
U.S. Reps. Bill Huizenga (R-MI), Ron Estes (R-KS), Bill Johnson (R-OH), and Blake Moore (R-UT) are among the members of the newly formed steering committee. Rep. Huizenga is a co-chair alongside U.S. Rep. Scott Peters (D-CA).
“I am proud to join forces with my colleague Rep. Scott Peters to launch the Bipartisan Fiscal Forum,” Rep. Huizenga said on July 18. “Our fiscal challenges transcend party affiliation, and we want to create a place for constructive dialogue and innovative solutions through our forum. This is exactly what is needed to protect southwest Michigan families and future generations.”
“Since my first day in office, I have been laser focused on addressing our ballooning national debt and unsustainable fiscal trajectory,” said Rep. Moore. “Washington can no longer accept business as usual when it comes to our federal spending habits. I am grateful to serve as a steering member for the Bipartisan Fiscal Forum and work with my colleagues to create productive solutions to this looming crisis.”
According to information provided by the lawmakers, the BFF’s mission is to elevate the debt issue with their colleagues and the public, and provide members of Congress with opportunities to improve the fiscal policy debate in Congress.
“The Bipartisan Fiscal Forum faces a tall order as the federal debt has reached unprecedented levels and yet our spending remains unchecked,” said Rep. Estes. “I’m grateful for the leadership of chairs Huizenga and Peters and am honored to serve on the Bipartisan Fiscal Forum Steering Committee as we seek to offer budget reforms that will put our nation back on a path of financial stability.”
The BFF started informally in 2020 and since then has engaged in bipartisan collaboration to advance ideas that address the growing U.S. debt and associated interest costs. In total, more than 70 current members of Congress have participated in BFF activities, the information says.
“It’s crucial, now more than ever, that we come together — as Americans — to review our fiscal future and come up with solutions to address our national debt,” Rep. Johnson said. “To truly govern, we’ve got to do this in a responsible way, and I look forward to working towards bipartisan solutions to put us on the road to fiscal responsibility before it’s too late.”
Some of the BFF’s guiding principles include:
- Debt costs threaten our collective future. The federal government is projected to borrow nearly $20 trillion over the coming decade, with associated net interest payments that could total more than $10 trillion over this timeframe.
- Durable solutions need bipartisan support. Achieving a sustainable budget and improving the budget process requires bipartisanship to implement solutions that would improve the U.S. fiscal outlook over time.
- Members should focus on putting forward solutions and not tearing each other down. BFF participants should not attack each other but instead put forward their ideas for debate.
“We owe it to our children to acknowledge our country’s unsustainable fiscal trajectory and work together, across the aisle, to address it over time,” Rep Peters said. “The Bipartisan Fiscal Forum will continue this work in the 118th Congress.”