Under Senator Rob Portman’s (R-OH) bill, Congress must reduce spending on a dollar-for-dollar basis when it increases debt above the federal debt limit set by law which would take place over a 10-year period.
June 9, 2020
The Honorable Rob Portman
Senator from Ohio
448 Russell Senate Office Building
Washington, DC 20510
Dear Senator Portman:
On behalf of over 2 million members of the Association of Mature American Citizens (AMAC), I write in support of S. 2002, the Dollar-for-Dollar Deficit Deduction Act.
In 2020, spending and national debt are at an all-time high and projections show an even more rapid trend for the future. If Congress does not act now, the future generations of Americans will be paying the burden through a weaker dollar and increased taxes. Under the Dollar-for-Dollar Deficit Deduction Act, Congress must reduce spending on a dollar-for-dollar basis when it increases debt above the federal debt limit set by law. The reductions in federal spending would take place over a 10-year period. Installing framework to offset increases in liability and limit spending is a commonsense solution to address the accruing spending and debt problem in this country.
AMAC is dedicated to ensuring the next generation of seniors are protected. Our members take very seriously their role in passing on a better country economically to their children and grandchildren. We commend Senator Portman for your responsible solution that will ease the burden on the next generation of Americans. AMAC is pleased to offer our organization’s full support to the Dollar-forDollar Deficit Deduction Act.