Lake County News: Thompson votes to pass bipartisan budget, debt ceiling agreement
U.S. Rep. Mike Thompson (CA-5) voted on Wednesday in favor of H.R. 1314, the Bipartisan Budget Act of 2015.
Thompson's office said the agreement raises the debt limit until March 15, 2017, and sets increased spending levels for two years by partially rolling back sequestration cuts by $80 billion, which will be split equally between defense and nondefense spending.
The agreement also mitigates increases in Medicare Part B premiums that were forecast to impact certain beneficiaries in 2016, limits Part B deductible increases for all Medicare beneficiaries, and it keeps the Social Security disability insurance trust fund solvent until 2022, Thompson reported.
“While the bipartisan budget agreement isn’t perfect, it is better than continuing to govern crisis-to-crisis and cliff-to-cliff,” said Thompson. “It doesn’t include everything I want, nor does it include everything Republicans want. However, it helps keep our government open, makes sure we pay our bills on time, and eases job-killing, across-the-board sequestration cuts. With some stability now in place, both parties should use this modest compromise as a framework to come together to work on a long-term budget solution that puts people to work, lowers our debt and invests in our future.”
The bill passed by a bipartisan vote of 266-167. It now goes to the Senate for consideration.
Thompson represents California’s Fifth Congressional District, which includes all or part of Contra Costa, Lake, Napa, Solano and Sonoma counties.