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The “Cut, Cap, and Balance Act” passed 234 to 190 in the House of Congress on Tuesday. The legislation would increase the nation’s debt ceiling, but first requires congressional approval of a Balanced Budget Amendment. The bill would also cut $111 billion dollars in spending for FY 2012 and would cap spending at 19.9% of GDP.

U.S. Rep. Martha Roby, R-Montgomery, is among the newly elected members of congress who pushed the ‘Cut, Cap and Balance Act.’

“Today’s passage of the ‘Cut, Cap and Balance Act’ is a bold step in the right direction that would make immediate spending cuts while also enacting long-term reforms,” Rep. Roby said. “Under the plan, future spending would be significantly restrained, putting America in a far stronger position tomorrow than we are today. In exchange for these straightforward and significant reforms, the bill would allow our nation to avoid default by increasing the debt limit.”

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