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Tom Reed called for changes in the federal budget process which would require the President to deliver tangible spending plans to Congress in order to rein in the federal deficit. "Our kids and grandkids are saddled with an 19 trillion dollar debt which continues to grow. That isn't fair and it isn't right. I care about ensuring that we leave our kids with a nation that is financially strong and this proposal is the first step in that process."

The move comes as U.S. Treasury Secretary Jack Lew informed Congress that the United States would once again strike its debt limit on November 3.

The proposal would require the President to submit a budget to Congress within 60 days of Congressional passage of an increase to the debt ceiling. The Presidential budget would have to eliminate deficit spending over the course of five years and grow revenues without increasing taxes, forcing cuts to federal spending.  In exchange, Congress would authorize an increase in the debt ceiling until December 2016. If the President fails to submit a plan, debt relief would be restricted to six months and be accompanied by a one-percent spending cut across all federal agencies.

Finally, the proposal would require Congress to hold an up or down vote on the bill and would only require a 50 vote threshold for Senate consideration.  This would encourage action on the bill and prevent it from falling by the wayside due to parliamentary procedure.

"This proposal is about changing the culture and the tax-and-spend mentality of Washington, DC.  Ultimately, it holds our elected officials accountable by providing a practical framework to address our debt and gets our country back on track," Reed continued.

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