The Ripon Society

NEWS from
THE RIPON SOCIETY
"Rep. Bill Huizenga & MacGuineas Call for Bipartisan Action on Debt Crisis"
May 20, 2026

WASHINGTON, DC – With the national debt exceeding 100 percent of GDP for the first time since World War II, The Ripon Society held a breakfast discussion yesterday morning with two leading voices in the fight to get spending under control – House Financial Services Vice-Chair Congressman Bill Huizenga (MI-04) and Committee for a Responsible Federal Budget (CRFB) President Maya MacGuineas.

Huizenga, a seasoned member of the committee and Chairman of the Bipartisan Fiscal Forum (BFF), opened the discussion by emphasizing the need for bipartisan cooperation on the country's fiscal challenges.

“We are in this together, regardless of party label, and we have got to figure it out together, because this is not going to be a one-party solution either. … First, you need relationships. You need relationships to build trust, and then you need that trust to then go find solutions.”

MacGuineas, who is also actively involved with the BFF, built on Huizenga's remarks — noting that bipartisanship alone is not enough to address the country's deepening fiscal crisis.

“I think the fiscal policy issue, the fiscal situation, we have right now is the perfect illustration of something that's so hard, everybody knows it's a problem, and nobody wants to work on it because the fixes are really difficult. Absolutely this is something that has to be done that's bipartisan, but that's still not enough, because it takes a lot of courage and it takes recognition from both parties.”

The CRFB President went on to outline several of the most pressing threats to the nation's economic foundation — chief among them, the country's unsustainable borrowing.

“We are borrowing $2 trillion every year when the economy is good, who knows what's going to happen during the next downturn, but we know we're not as prepared as we should be.

“Budget deficits are not something people are going home and fretting about, but it leaves the fiscal foundation of a weak country, remarkably weak. Right now, we're in a moment that is illustrating why this is so dangerous. You need to have a strong fiscal situation in case you have an economic crisis to avoid inflation and higher interest rates for national security. You do not want to be in a situation of having to borrow from countries who you are not aligned with, particularly if it's about protecting against them, or for big unknown moments.”

“But I think more difficult than the fiscal challenges is the political challenge, that if anyone goes out there and tells the truth – that we’ve got to talk about controlling spending, we’ve got to fix entitlements, we've got to find a way to get new revenue – they will be politically obliterated.”

The discussion then turned to concrete solutions the BFF has advanced, including capping national deficit spending at 3 percent of GDP — a benchmark both speakers described as a necessary and achievable first step.

“That does not solve it right away, but it starts building the habits,” Huizenga explained. “Let's start this journey here towards a fiscal commission by having this debate on something that's a little bit more palatable and a little more approachable and maybe is going to be able to garner some more support.”

“What's great about 3% is you put it out there and then all the different people who support it – whether it's the Senate Budget committee, or the House or the president, or the progressive caucus, or the RSC – they put forth a budget that also meets a 3% target,” MacGuineas added. “You start to see the real trade-offs and you start to look for compromises, which is where we know we have to be.”

Huizenga offered perspective on the effort, framing it not as a finish line but as a critical waypoint in a longer fiscal journey.

“We’ve been working towards some big ideas,” Huizenga said, “and we have made progress on that. But I think it now is really, this is something that if we could come across with this as an accomplishment, that would be hugely helpful as we are building towards other things. This can't be the finish line, right? This is a mile marker. And if we view it that way, then we're well on our way to this marathon.”

To read more and view Huizenga and MacGuineas’ remarks before The Ripon Society yesterday, please visit https://riponsociety.org/2026/05/huizenga-macguineas-call-for-bipartisan-action-on-debt-crisis/

Drivers save 10–40 cents per gallon where E15 is available. So why isn't it available year-round? President and CEO of the Renewable Fuels Association Geoff Cooper explains why passing year-round E15 is one of the easiest calls Congress can make right now in the latest Ripon Forum:

The latest escalation involving Iran and the resulting spike in global oil prices have once again put American drivers at the mercy of forces beyond our control. Gas prices are rapidly climbing for American drivers, and pressure is mounting on Congress and the Trump administration to deliver badly needed financial relief. AAA reports that national average gas prices hit $3.96 on March 23—up more than $1 per gallon from just a month ago.

There is a clear, immediate step lawmakers can take to help remedy this: Pass legislation allowing nationwide, year-round sales of lower-cost E15, a gasoline blend containing 15 percent American-made ethanol—slightly more than today’s standard gasoline, which contains 10 percent ethanol. E15 is a legally approved fuel for all vehicles manufactured since 2001, meaning more than 95 percent of the automobiles on the road today are EPA-approved for E15.

Millions of drivers are already keeping more money in their pockets by choosing E15, with average savings of 10 to 40 cents per gallon and savings at some stations reaching as high as 60 cents. At a moment when fuel costs are surging because of geopolitical instability, expanding access to this lower-cost, American-made fuel should be the obvious priority of Congress. The economics are simple: in recent weeks, ethanol is selling for $1 per gallon less than gasoline at the bulk terminals where fuels are blended together prior to being delivered to gas stations. Obviously, adding more ethanol to gasoline helps bring down the price at the pump.

To read more, please visit https://riponsociety.org/article/will-americans-benefit-from-year-round-e15-sales-yes/