Romney Named “Fiscal Hero” for Bipartisan Work to Tackle Debt, Rein in Federal Spending

Renews call on Congress to pass the Fiscal Stability Act to rescue endangered federal trust funds

WASHINGTON—U.S. Senator Mitt Romney (R-UT) this week was recognized as a “Fiscal Hero” for the 118th Congress by Fix the Debt—a project of the Committee for a Responsible Federal Budget (CFRB)—for his bipartisan efforts to rein in the national debt and balance the federal budget. Since coming to Congress, Romney has made budget and debt issues a top priority and has been urging Congress to pass the Fiscal Stability Act—his legislation with Senator Joe Manchin (D-WV) which would create a bicameral fiscal commission tasked with finding legislative solutions to stabilize and decrease our national debt. The Fiscal Commission Act, the companion legislation introduced in the House by Representatives Bill Huizenga (R-MI) and Scott Peters (D-CA), passed out of the Budget Committee in January on a bipartisan basis. A one-pager of the bill is available here.

“If you look at the history of great civilizations that have failed, a characteristic of their failure is that they start spending massively more than they take in. In our case, we have China on our heels eager to replace us—economically, militarily, and geopolitically. We simply cannot keep adding to our debt because at some point, we won’t be able to keep up with the growing interest, our currency will weaken, and we will be replaced as the leader of the free world,” Senator Romney said.“At the same time, we must protect our seniors and those who rely on our federal trust funds like Social Security, Medicare, and Medicaid. We have a lot of work to do, and I remain committed to securing a better future for our children and grandchildren. Congress should get serious and create a bipartisan, bicameral fiscal commission that can begin to tackle these issues and get us on a stronger fiscal footing before it’s too late.”

President of the Committee for a Responsible Federal Budget and head of Fix the Debt Maya MacGuineas said the following: Our debt is skyrocketing, interest costs are surging, major trust funds are approaching insolvency, and the national debt is threatening our national security—there has never been a more important moment for policymakers to step up and lead on fiscal issues. We are pleased that a number of Members of Congress have found ways to work productively on the issue and demonstrate the leadership fiscal responsibility requires. During this Congress, lawmakers made significant improvements to the fiscal situation for the first time in over a decade by passing the Fiscal Responsibility Act. What’s more, we are seeing growing support for developing policy and process solutions that improve our fiscal health. This includes the excellent work and leadership of the Bipartisan Fiscal Forum, widespread efforts to establish a bipartisan fiscal commission, and individual efforts to promote responsible legislation and educate the public. Leading on fiscal responsibility isn’t easy, especially when compared to the reckless but politically expedient choice to pass on more debt to the next generation. We applaud the Fiscal Heroes for their hard work and encourage more members of Congress to follow in their footsteps.”


Fiscal Heroes are awarded each Congress to recognize policymakers working to improve the nation’s fiscal situation and fix the budget process. Fiscal Heroes have distinguished themselves by pushing their party leaders to make debt a priority, leading bipartisan efforts to work through policy options to fix the debt and the budget process, taking responsible votes, participating in fiscally focused events, using their town hall meetings to engage and educate constituents, delivering floor speeches to raise awareness about the issue, advocating to keep tough choices on the table, and introducing legislation to improve the budget process and the nation’s fiscal position.