WASHINGTON, D.C.—The Committee for a Responsible Federal Budget (CRFB) has named U.S. Senator Angus King as a “Fiscal Hero” of the 118^th Congress, to recognize his extensive work to improve the nation's fiscal stability and fix the budget process. Fiscal Heroes earn this designation by leading bipartisan efforts to work through policy options to fix the debt and the budget process, taking responsible votes, participating in fiscally-focused events, delivering floor speeches to raise awareness about the issue, advocating to keep tough choices on the table, and introducing legislation to improve the budget process and the nation's fiscal position.

“A strong and responsible fiscal stance is not just good policy, it is critical for teachers, first responders, service members, and all Maine people in their every day lives,” said Senator King. “This announcement is about the future – it’s about passing on a stable American budget and economy to our children and grandchildren. I appreciate the Committee for a Responsible Federal Budget for sharing these priorities, and I look forward to continuing these important policy discussions for years to come with my colleagues on both sides of the aisle.”

“Fiscal responsibility is a stewardship, not only for Americans today but for generations of Americans to come. We applaud this year’s Fiscal Heroes, including Senator King, for having the courage to prioritize our fiscal health and work towards achieving a more sustainable debt trajectory. Through legislation, speeches, engagement back home, and tough political decisions, these Members of Congress have distinguished themselves as leaders on these key issues, and we are honored to recognize and applaud them for their efforts. We look forward to seeing how these Fiscal Heroes will build on the momentum in the past year to make even greater strides going forward,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget and head of Fix the Debt.

Senator King has been a steadfast advocate for strong fiscal policy. He led efforts to institute a corporate minimum tax so that the Nation’s most profitable corporations don’t pay less in taxes than teachers or firefighters. This policy alone will raise $222.2 billion over 10 years, helping to put federal finances in better order.

He also introduced the Stop CHEATERS Act to catch wealthy tax cheaters and make sure they pay the taxes they owe. Key components of the bill became law in the Inflation Reduction Act. The Treasury Department recently estimated that recovering taxes owed from wealthy cheats will raise $561 billion between 2024 and 2034, significantly improving the federal budgetary outlook.

Senator King voted for the Fiscal Responsibility Act, which ended a period of dangerous brinksmanship over the debt limit, saving the country hundreds of billions of dollars in interest. Congress’ commitment to paying America’s debts is key to keeping federal interest costs manageable. A Brookings analysis stated that a federal default could cost $750 billion in extra interest costs over a decade. 

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