Over 100 members of the conservative Republican Study Committee (RSC) in the House have signed a letter to leadership requesting a "Cut, Cap and Balance" debt reduction plan. The three-step plan, the letter states, begins with a plan to cut the budget deficit in half for next year's budget with spending cuts. The RSC proposal also seeks to institute a statutory cap on federal government spending at 18 percent of GDP and requests Congress send to the states two constitutional amendments, a balanced budget amendment, and a spending limit amendment.

"With each passing day our nation’s fiscal health gets worse, leaving our children and grandchildren falling farther into debt," the letter says. "The Democrats have given up, saying that the only answer to excessive borrowing is more borrowing. Therefore, it is imperative that we move quickly and unite behind a plan to restore fiscal responsibility to Washington and renew the Age of America."

Read the full text of the letter here.

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