Debt Free America Act
As we begin to debate how to address the federal government’s long-term fiscal situation, the escalating debt, as well as implementing tax reforms that will make our system of taxation more efficient and fair, I encourage you to read more about H.R. 1125, the Debt Free America Act.
The U.S. economy depends heavily on foreign capital inflows from countries such as China with high savings rates to help promote growth and to fund the federal budget deficit. China has intervened heavily in currency markets to limit the appreciation of its currency, especially against the dollar. As a result, China is the world’s largest and fastest growing holder of foreign exchange reserves. China’s current U.S. Treasury securities holdings are valued at over $1 trillion, which accounts for 24.3 percent of the total foreign ownership of U.S. Treasury securities.
Tell Congress No More Debt, Debt Us Free
"DEBT US FREE" to 202.630.DEBT(3328)
