President Joe Biden signed the Fiscal Responsibility Act on Saturday, raising the debt ceiling until 2025. Raising the debt ceiling allows the country to pay its loan and avoid default. 

Many of Idaho’s congressmen saw the bill as a temporary fix. 

“Idahoans live within their means by making responsible financial decisions for their families — the federal government should do the same,” said Senator Jim Risch in a press release. “This debt ceiling increase puts a band-aid on a hemorrhage, and we will be in this same situation again and again until we address the federal government’s underlying spending problem.”

Representative Russ Fulcher believes the problem should have been addressed before the crisis. 

“We should never have been in this situation,” Fulcher said. “For over 100 days, President Biden refused to negotiate with House Republicans to find a solution to this crisis. So last month, House Republicans led and passed the Limit, Save, Grow Act – with more than thirty days before the debt limit deadline. The bill would have mitigated the debt ceiling crisis while enacting historic spending reductions. Democrats controlling the Senate have refused to put it up for a vote.”

While many of Idaho’s congressional delegation voted against the act, Mike Simpson didn’t. He expressed gratitude to Speaker of the House Kevin McCarthy in negotiating with President Biden and instituting reforms to allow for more financial stability. 

“Raising the debt limit does not create new spending — rather, it allows the federal government to pay back loans that were taken out in the past and ensures that the government meets its obligations to bondholders, taxpayers, Social Security recipients, and the veterans and service men and women who have served our country faithfully,” Simpson said in a press release. “Democrats’ unchecked spending got us to the circumstance we’re in today, and this bill sets a strategic and responsible path forward to grow the economy and save trillions in taxpayer dollars, which is why I was proud to vote in favor of this legislation.”