Press Releases

WASHINGTON, D.C. — Yesterday, the federal government closed its fiscal year, with a national debt exceeding $40 trillion. The bipartisan Problem Solvers Caucus, led by Reps. Brian Fitzpatrick (PA-01) and Tom Suozzi (NY-03), continue to urge Congress to act now to restore long-term fiscal stability.

Over the past year, the Caucus endorsed the following bipartisan solutions: 

• Fiscal Commission Act (H.R. 3289): Establishes a bipartisan, congressionally led commission to develop recommendations for stabilizing the national debt.
• Sustainable Budget Act (H.R. 222): Creates a bipartisan commission tasked with developing a plan to balance the federal budget within 10 years
• Fiscal Contingency Preparedness Act (H.R. 4642): which would require annual fiscal stress tests to assess the government’s ability to respond to recessions, national security threats, and other emergencies

Congress must advance these proposals and address the growing debt now. Further delay will make the difficult choices ahead more costly and leave future generations to bear the burden.

“Earlier this year, we put forward a bipartisan Fiscal Stability Framework to begin changing the trajectory of our national debt. Since then, we have continued advancing practical reforms to move Congress beyond short-term fixes and toward lasting fiscal solutions. With the debt now exceeding $40 trillion, there is no excuse for further delay. No single vote—and no single party—can solve a challenge decades in the making, but there is a bipartisan path forward,” said Problem Solvers Caucus Co-Chair Congressman Brian Fitzpatrick (PA-01). “We have begun the work, and we will continue it until we put our country on stronger financial footing and leave the next generation a stronger America.”

“This fiscal year is ending with the highest debt our nation has ever faced, driving costs even higher for the American people. We cannot keep kicking the can down the road and expecting future generations to foot the bill,” said Problem Solvers Caucus Co-Chair Congressman Tom Suozzi (NY-03). “Democrats and Republicans in the Problem Solvers Caucus are working across the aisle every day to support bipartisan, commonsense legislation that will lower the debt and make life more affordable. This coming fiscal year, we need the rest of Congress to follow suit.”

"When I ran for Congress, I committed to using my role to reverse Washington’s debt and spending culture. Our nation passed a historic and troubling milestone this year with over $40 trillion in debt. This trajectory is unsustainable and requires decisive action from Congress. On the Problem Solvers Caucus we’ve worked across party lines to address the national debt and pursue reforms to our broken federal budget process,” said Congressman Blake Moore (UT-02). “We’ve made positive steps towards reducing deficits and giving Congress better information about the nation’s fiscal outlook, and I’m hopeful that we will continue to work on meaningful solutions.”

“As our national finances end Fiscal Year 2026 in far worse shape than a year ago, and the warning signs of even more rapid deterioration become far more pronounced, our Problem Solvers Caucus offers a practical, realistic and achievable way through one of our most difficult challenges,” said Representative Ed Case (HI-01), Co-Chair of the Caucus’ Budget, Tax, Debt and Deficit Working Group. “We reject the deniers who claim we have no federal debt and deficit crisis or that it is unsolvable. The only way out of this deepening hole is hard bipartisan problem solving, and we remain committed to pursuing just that through our Framework and implementing legislation.” 

"When I ran for Congress, I committed to using my role to reverse Washington’s debt and spending culture. Our nation passed a historic and troubling milestone this year with over $40 trillion in debt. This trajectory is unsustainable and requires decisive action from Congress. On the Problem Solvers Caucus we’ve worked across party lines to address the national debt and pursue reforms to our broken federal budget process,” said Congressman Blake Moore (UT-02). “We’ve made positive steps towards reducing deficits and giving Congress better information about the nation’s fiscal outlook, and I’m hopeful that we will continue to work on meaningful solutions.”

“The Problem Solvers Caucus has shown that fiscal responsibility can be a bipartisan issue. Its Fiscal Stability Framework recognizes the debt as a serious threat and calls for the creation of a fiscal commission, providing a venue for bipartisan dialogue and giving both parties a starting point to make the hard choices needed to improve our fiscal health. Our skyrocketing debt threatens our national security and our economy, putting upward pressure on interest rates and the associated cost of mortgages, car loans, and credit cards for American families. We commend the Problem Solvers Caucus for its leadership and keeping fiscal issues at the top of its agenda,” said Maya MacGuineas, President of the Committee for a Responsible Federal Budget.