On Thursday, U.S. Senator and Senate Federal Spending Oversight and Emergency Management (FSO) Subcommittee chairman Rand Paul (R-KY) introduced S. 4487, the Pandemic Pay-For Act, as he continued his efforts to make the federal government a more responsible steward of the American people’s money.
“If the federal government truly wants to help for the long term, it should take a hint from the American people, who are having to make difficult choices about their finances as we deal with the pandemic. Congress cannot keep pretending debt doesn’t matter. My bill forces it to face reality and stop living in a fantasy world where the sound of new money being printed drowns out the cries of future generations who will carry that debt burden from the day they are born,” said Dr. Paul.
Dr. Paul’s Pandemic Pay-For Act would cover approximately $2 trillion of the federal government’s emergency spending, without cutting a cent, by simply freezing discretionary spending at FY 2021 levels for the following three years through FY 2024.