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Good afternoon.

The Subcommittee will come to order. Without objection, the Chair is authorized to declare a recess at any time.

Welcome to this afternoon's hearing. I will begin by recognizing myself for an opening statement. I'd like to welcome our witnesses today:

Thank you, Chairman Cole and Ranking Member McGovern, for allowing me to testify on the Limit, Save, Grow Act.

I want to start by thanking Speaker McCarthy, Leader Scalise, Ways and Means Chairman Smith, and Budget Chairman Arrington for their hard work on this bill.

I hope the President will come to the table and work with us to ensure our nation does not default on our debt.

I want to highlight one very straightforward idea included in this package: to rescind funds that are not needed at this time and redirect them to other priorities.