U.S. Senators Kevin Cramer and Angus King announced on Mar. 20 the introduction of the 3% Resolution, a bipartisan effort aimed at reducing the federal budget deficit to 3% of gross domestic product by 2030.
The proposal comes as lawmakers seek ways to address the growing national debt, which has been driven by years of mandatory federal spending. The resolution sets a specific target for fiscal sustainability and calls for cooperation across party lines.
“It sure doesn’t take an economist to recognize the fiscal path we’re on is unsustainable, we all know that,” Cramer said. “Congress controls the purse and it’s long past time we address this imbalance of our ledgers. It is not going to happen without laser focus on economic growth and a willingness to look at every facet of the federal budget. Our 3% Resolution is a roadmap to what I consider fiscal sustainability, and I’m looking forward, and plead with my colleagues to work together on both sides of the aisle and both sides of the Capitol, as we focus our efforts to deliver greater economic growth, for our country, for our people, and ultimately, our fiscal situation.”
King said: “Restoring fiscal discipline isn’t about politics—it’s about responsibility. Our 3% Resolution sets a clear, achievable target to benchmark progress on the deficit to stabilize our economic growth trajectory. Sound economic policy will take members of both parties working together to evaluate spending and revenues to create a better future for the next generation.”
During a recent Senate Banking Committee hearing, Cramer discussed with Secretary of the Treasury Scott Bessent how reducing government spending could help lower rates and inflation. Bessent said his goal was “something that begins with a 3 by the end of President Trump’s term [in 2029],” echoing Cramer’s call for bipartisan solutions.
Other lawmakers have voiced support for setting clear targets. “The best way to tackle a daunting fiscal challenge is to set a clear, achievable goal and then build a practical plan to reach it,” one statement read. “Senators Cramer and King, joined by Senators Peters and McCormick, are taking an important step by putting forward a 3 percent deficit-to-GDP target to help stabilize the nation’s fiscal trajectory. We hope their colleagues will come together to meet this moment and begin the real bipartisan work of putting our budget on a more sustainable path.”
Another supporter said: “The nation’s large and growing debt hurts everyday Americans — driving up costs for families and weighing down future growth,” adding that rallying around this target could chart “a bipartisan path toward a brighter economic future.” BPC Action urged Congress “to get serious about our unsustainable debt and adopt this goal.”
Senators Dave McCormick and Gary Peters joined as cosponsors in support of this measure in the Senate while Representative Bill Huizenga introduced similar legislation in the House.
Cramer serves North Dakotans by assisting them with federal agencies according to his official website. He grew up in Kindred, North Dakota; earned degrees from Concordia College and University of Mary; served three terms as North Dakota’s at-large representative before joining the Senate; sits on committees covering Environment and Public Works, Veterans’ Affairs, Banking Housing & Urban Affairs; ran on energy policy issues; was first North Dakotan on Armed Services Committee; raised five children with his wife Kris; enjoys time with eight grandchildren—all according to his official biography.
