Congress should look to Indiana for fiscal maturity

The second Trump administration has begun, and Congress now faces some critical decisions when it comes to our nation’s spending and debt.

Since beginning his campaign for the White House, President Trump has promised great shakeups in Washington, which include policy changes to immigration, border security, energy, taxes, and the establishment of the Department of Government Efficiency (DOGE). I am hopeful that with this change of priorities from a new administration, our federal government can begin to fix the fiscal health of our county in the best interest of future generations.

Our national debt, which sits at $36 trillion, will continue to balloon towards explosion if our leaders in Washington do not act in a fiscally responsible way to address it. That is why I am glad to see that Indiana’s own Congresswoman Victoria Spartz is committed to this issue.

Republicans will be utilizing the reconciliation process to skip a Democratic filibuster in the Senate and address many of the president’s priorities in only a handful of bills. Reconciliation will play a pivotal role in either setting our country on the right fiscal path or digging ourselves into an even bigger debt.

Currently, the recently passed House reconciliation budget includes approving $3.5 trillion to $4 trillion in new borrowing and instructions to extend the Tax Cuts and Jobs Act of 2017, while the Senate proposal includes adding billions more in new borrowing while addressing defense, the border, and energy policy. Congress must commit to no new borrowing instead of giving the go-ahead to approve trillions more in new debt.

Our federal government in Washington could take Indiana as an example for principled, fiscally responsible governance and balanced budgets. At $366 per capita, we are one of the lowest debt-level states in the country. Through a thoughtful, favorable tax structure and disciplined spending, the Hoosier state can serve as a model as Congress considers the budget plan. At the very least, the reconciliation package that goes to the President’s desk should not make our debt problem worse – it should reduce it.

Instead of raising the debt, Congress should consider taking fiscally responsible actions that stop the debt’s growth. A great first step is setting the goal of stabilizing the debt-to-Gross Domestic Product (GDP) ratio, not allowing the debt to grow any further. Once stabilized, policymakers will need to bring everything to the table to address our debt, including potential changes to tax and government revenue policies and changes to the critical entitlement programs facing insolvency.

The road to getting our debt under control will be a long but necessary one. Congress must prioritize fiscal responsibility and consider our nation’s fiscal direction when voting on the upcoming reconciliation bill and subsequent legislation that follows in Congress. The future strength of our nation and economy depends on it.

Ray Adler is a longtime attorney with offices at The Adler Building, 136 S. 9th St., Downtown Noblesville. He is also one of the owners of The Hamilton County Reporter Newspaper.