Statement of Administration Policy: H.R. 2693 - Budget Control Act of 2011

(House)

(Rep. Dreier, R-CA)

The Administration strongly supports House passage of H.R. 2693. It is imperative that the United States not default on the Nation's obligations, that the full faith and credit of the United States be preserved, and that the Nation's fiscal house be put in order. The bill would increase the debt ceiling to a level that will be sufficient for the Nation to meet its obligations through the beginning of 2013, while providing both a significant down payment on deficit reduction and a means to further address deficit reduction through a balanced approach that allows for both cutting spending and eliminating tax subsidies that benefit the wealthiest Americans and corporations. If the bill were presented to the President, his senior advisors would recommend that he sign it.