U.S. Rep. Scott Rigell (R-VA) introduced the America First Act this week, a measure that would eliminate most of the automatic spending cuts, known as sequestration, while rebuilding the budget for national defense and cleaning up the budget in a variety of areas to establish a fiscally responsible path for the future.
Replacing the sequestration cuts that many lawmakers see as harmful to the economy, the comprehensive budget plan would offer more pertinent reforms to control the growth of mandatory spending and also generate additional revenue. Rigell’s legislation offers more certainty for discretionary-spending levels, which would work toward interrupting the current “governing by crisis” pattern. With more efficient spending, the America First Act is expected to improve the solvency of Social Security and Medicare for future generations of Americans.
“Our national security, our men and women in uniform, and our local economy remain at tremendous risk because of sequestration,” Rigell said. Rigell also said that because sequestration is an official law, only a new law, passed via the normal protocols, could repeal it. “The America First Act reflects principled compromise, which is desperately needed in Washington,” Rigell said.
As a result of Congress failing to pass a new budget in 2012, sequestration cuts were activated, reducing the Department of Defense budget by approximately $50 billion a year through 2021, with similar reductions in domestic spending. Rigell’s bill restores nearly 75 percent of those spending cuts, while offsetting the spending increases by advancing meaningful reforms to other areas of mandatory spending and revenue enhancements. The moves net out to a total of $765 billion in savings and revenue over the next 10 years, which can be utilized to lower deficits and long-term debt, while significantly alleviating the effects of sequestration.
“Mandatory spending is the primary driver of our debt, and ignoring this fact is reckless,” Rigell said. “Now is the time for responsible solutions to be advanced. Compromise is possible. I’m convinced that the America First Act represents a principled compromise in Washington. Reversing sequestration has strong bipartisan support. Further, both Republicans and Democrats have indicated willingness in the past to accept the spending reforms and revenue incorporated in my bill.”