WASHINGTON, D.C. – Today Congressman Steve Austria (R – Beavercreek) voted in favor of the Cut, Cap and Balance Act (H.R. 2560), which aims to cut federal spending, cap federal spending, and balance the budget through passage of a Balanced Budget Amendment before raising the nation’s debt limit. The bill passed the House by a vote of 234 to 190.

Earlier today, Congressman Austria took to the House floor to urge his colleagues to join him in voting for the bill. Video of the speech can be found on Austria’s YouTube page here: www.youtube.com/CongressmanAustria. Additionally, a list of Frequently Asked Questions about H.R. 2560 is currently posted on Austria’s Web site at www.austria.house.gov.

The full text of Congressman Austria’s remarks as prepared for delivery are below:

“Thank you Mr. Speaker.

“Our nation is facing a debt crisis that threatens our economy, national security and our children’s future. This Administration continues to borrow and spend money we do not have – they just do not get it. Our debt crisis is not because we have not taxed enough, but rather is a result of Washington spending too much.

“As a result, we are pushing the bill onto future generations. Our children will owe approximately $45,000 to our creditors, and that is unacceptable.

“I know folks back home in Ohio and across this nation are tightening their own belts and must live within their means, and it is time that the federal government do the same with American’s hard-earned tax dollars.

“The solution begins with the Cut, Cap and Balance Act. Cut spending now, live within our means by capping future spending, and move towards a balanced budget amendment. Mr. President we have a debt crisis and it is time for a plan now.

“Mr. Speaker I yield back the balance of my time.”

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