WASHINGTON, D.C. (WOWO): Indiana’s freshman Senator is making a push to reign in government spending.
Senator Mike Braun, along with fellow Hoosier Senator Todd Young, is introducing a bill called the “MAP Act.” The idea is to cap, cut, and balance the federal budget, which Braun says has gotten out of control.
“That you borrow money not to consume, that’s called putting on a credit card,” Braun said on the Senate floor. “Almost everything we do in the federal government, there is not a tangible asset to show for it. We are either spending it or consuming it.”
The MAP Act would place a cap on any spending the government does that does not involve interest attached to it. That cap would fluctuate based on the country’s full employment GDP.
Braun was one of many Republicans to criticize a budget deal made between President Trump and Congressional leaders that would raise spending by about $50-billion the next fiscal year and suspend the “debt ceiling” until 2021.
Braun’s bill is also being brought up in the House by Texas Republican Kevin Brady.