U.S. Senators Kevin Cramer (R-ND) and Angus King (I-ME) introduced the 3% Resolution to support the goal of reducing the federal budget deficit to 3% of gross domestic product (GDP) by 2030.
Support reducing the federal budget deficit to 3% of gross domestic product (GDP) by 2030.
Occurrences
"If we continue cutting waste and fraud from the federal government as well as incentivizing economic growth, we will stabilize the debt and put our nation on a credible path to balance going to 3% deficit-to-GDP from 6% over the next several years."
Senator Cramer discussed the 3% Resolution with Treasury Secretary Scott Bessent, emphasizing the need to reduce the budget deficit through decreased government spending.
Senators Kevin Cramer (R-ND) and Angus King (I-ME), along with Senators Dave McCormick (R-PA) and Gary Peters (D-MI), recently introduced a resolution in support of a 3% deficit-to-Gross Domestic Product (GDP) target. ... The resolution expresses the sense of the Senate that the United States should reduce and maintain the federal unified budget deficit at or below 3% of GDP...
Senators Kevin Cramer (R-ND) and Angus King (I-ME), joined by Senators David McCormick (R-PA) and Gary Peters (D-MI), introduced a resolution in the Senate last week calling for setting a target of reducing deficits to 3% of Gross Domestic Product (GDP).
In March, Senators Kevin Cramer (R-ND) and Angus King (I-ME) were joined by Senators Dave McCormick (R-PA) and Gary Peters (D-MI) to introduce a Senate version. The resolutions express the sense of the House of Representatives and the Senate that the United States should reduce and maintain the federal unified budget deficit at or below 3% of GDP while acknowledging that the deficit for fiscal year 2025 was roughly 6% of GDP and interest costs are now projected to total over $1 trillion each year going forward. ... Senator Kevin Cramer (R-ND): “…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.”
Evidence
U.S. Senators Kevin Cramer (R-ND) and Angus King (I-ME) introduced the 3% Resolution to support the goal of reducing the federal budget deficit to 3% of gross domestic product (GDP) by 2030.
During a Senate Banking Committee hearing, Senator Cramer discussed the 3% Resolution with Treasury Secretary Scott Bessent, emphasizing the need to reduce the budget deficit through decreased government spending.
The Congressional Budget Office estimated the federal budget deficit totaled $1.2 trillion in the first half of fiscal year 2026, $139 billion less than the same period last fiscal year.
The United States borrowed $1.2 trillion in the first six months of Fiscal Year 2026, including $163 billion in March, according to the latest Monthly Budget Review from the Congressional Budget Office.
The United States borrowed $1.0 trillion in the first five months of Fiscal Year 2026, including $308 billion in February, according to the latest Monthly Budget Review from the Congressional Budget Office.
The United States borrowed $696 billion in the first four months of Fiscal Year 2026, including $94 billion in January, according to the latest Monthly Budget Review from the Congressional Budget Office.
The United States borrowed $602 billion in the first three months of Fiscal Year 2026, including $145 billion in December, according to the latest Monthly Treasury Statement from the Treasury Department.
The United States borrowed $439 billion in the first two months of Fiscal Year 2026 according to the latest Monthly Budget Review from the Congressional Budget Office.
Senator Cramer engaged with Treasury Secretary Scott Bessent to discuss the 3% Resolution and the need to reduce the budget deficit through decreased government spending.
The Committee for a Responsible Federal Budget (CRFB) applauded the introduction of the 3% Resolution by Senators Cramer and King, noting it sets a clear, achievable target to benchmark progress on the deficit to stabilize economic growth.
Various experts and organizations, including Ray Dalio and the Heritage Foundation, have expressed support for the 3% deficit target, emphasizing its importance for fiscal sustainability.
Senators Cramer and King, along with Senators McCormick and Peters, introduced a resolution in support of a 3% deficit-to-GDP target, illustrating growing bipartisan momentum.
The House Budget Committee held a hearing titled 'The Best Metric to Reverse the Curse: A 3% Deficit-to-GDP Path to Fiscal Sustainability,' discussing the importance of adopting a 3% deficit-to-GDP framework.
The Committee for a Responsible Federal Budget is part of a growing bipartisan chorus of support around a 3% fiscal target for the nation, which has grown to include policymakers, business leaders, editorial boards, organizations, and other influential voices.
Support for a 3% deficit-to-GDP target is broad and bipartisan, with endorsements from approximately 40 former government officials, private-sector leaders, and organizations.
On March 20, 2026, Senators Kevin Cramer (R-ND) and Angus King (I-ME) introduced a bipartisan resolution aiming to reduce the federal budget deficit to 3% of GDP by 2030. The resolution emphasizes the need for fiscal sustainability and bipartisan cooperation to achieve this goal.
The Committee for a Responsible Federal Budget (CRFB) praised the introduction of the 3% fiscal goal resolution by Senators Cramer and King, highlighting its potential to stabilize the nation's fiscal trajectory and expressing hope for bipartisan support.
On April 8, 2026, Senators Cramer and King, along with Senators McCormick and Peters, introduced a resolution supporting a 3% deficit-to-GDP target. The resolution outlines steps for the President and Congress to achieve this goal, including submitting budgets and setting allocations consistent with the target.
Various experts and organizations have expressed support for the 3% deficit target, emphasizing its importance for fiscal sustainability and economic growth. Notable figures like Ray Dalio and organizations such as the Concord Action have endorsed the target.
The House Budget Committee held a hearing discussing the importance of adopting a 3% deficit-to-GDP framework. Witnesses highlighted the need for a clear fiscal target to stabilize the nation's debt and promote economic growth.
The Congressional Budget Office estimated a $1.2 trillion deficit for the first half of Fiscal Year 2026, indicating that the federal deficit remains significantly above the 3% of GDP target.
The Congressional Budget Office (CBO) published its monthly budget review estimating the federal budget deficit totaled $1.2 trillion in the first half of fiscal year 2026, which is $139 billion less than the deficit recorded during the same period last fiscal year.
The United States borrowed $1.2 trillion in the first six months of Fiscal Year (FY) 2026, including $163 billion in March, according to the latest Monthly Budget Review from the Congressional Budget Office (CBO).
Senators Cramer, King, McCormick, and Peters introduced a resolution supporting a 3% deficit-to-GDP target, detailing steps for its achievement.
The CRFB is part of a growing bipartisan support for a 3% fiscal target, including policymakers and business leaders.
Experts and organizations, including Ray Dalio and Concord Action, support the 3% deficit target for fiscal sustainability.
House Budget Committee hearing emphasized the need for a 3% deficit-to-GDP framework to stabilize debt and promote growth.
CRFB commended the 3% fiscal goal resolution introduced by Senators Cramer and King, emphasizing its importance for fiscal stability.
The U.S. federal deficit reached $1.2 trillion in the first half of Fiscal Year 2026.
Action: Mr. Cramer (for himself, Mr. King, Mr. Peters, and Mr. McCormick) submitted the following resolution; which was referred to the Committee on the Budget. Full Title: Expressing the sense of the Senate that the United States should reduce and maintain the Federal unified budget deficit at or below 3 percent of gross domestic product.
In CBO's baseline, deficits grow to 6.1 percent of GDP in 2025 and then decline over the next two years, falling to 5.2 percent of GDP in 2027; deficits equal or exceed 5.2 percent of GDP in every year from 2024 to 2034.
Senators Kevin Cramer (R-ND) and Angus King (I-ME) teamed up to introduce the 3% Resolution to support the goal of reducing the federal budget deficit to 3% of gross domestic product (GDP) by 2030.
Cramer pivoted to the 3% Resolution, which supports the goal of reducing the federal budget deficit to 3% of gross domestic product (GDP) or less.
The June 12, 2026 Senate press-release archive notes that last month, in a Senate Banking Committee hearing, Cramer and Treasury Secretary Scott Bessent discussed the 3% resolution and the need to reduce the budget deficit through decreased government spending.
Senators Kevin Cramer and Angus King introduced the 3% Resolution to support reducing the federal budget deficit to 3% of GDP by 2030; Cramer called it a roadmap to fiscal sustainability.
At a Senate Banking Committee hearing, Cramer raised the 3% Resolution with Treasury Secretary Scott Bessent and asked whether the goal of 3% by 2030 was realistic.
Congress.gov lists the House 3% Resolution as introduced and referred to committees, with a CRS summary saying Congress should adopt a fiscal target to reduce the deficit to 3% of GDP or less no later than FY2030.
The resolution text states Congress should adopt a fiscal target to reduce the federal budget deficit to 3% of GDP or less as soon as possible and no later than the end of fiscal year 2030.
Assessments
The promise was to support reducing the federal deficit to 3% of GDP by 2030, not necessarily to achieve the 2030 fiscal result by 2026. During his current Senate term, Cramer co-introduced the bipartisan 3% Resolution explicitly backing that target and publicly advanced it in a Senate Banking Committee hearing with the Treasury Secretary. That is direct candidate action matching the promised support.
The promise was to support a 3% deficit-to-GDP target by 2030, not to singlehandedly achieve the deficit level immediately. In March 2026, Kevin Cramer materially advanced that position by co-introducing the bipartisan 3% Resolution explicitly endorsing the target, and subsequent 2026 evidence shows he continued advocating for it in Senate proceedings and discussions with Treasury Secretary Scott Bessent. The broader federal deficit had not yet reached 3% of GDP, but for a senator this claim is best judged on whether he provided meaningful legislative and public support for the policy goal. On that standard, the promise was delivered in the same term.
The pledge was to support a 3%-of-GDP deficit target by 2030. Senator Cramer co-introduced the bipartisan "3% Resolution" (with Sen. Angus King and others) in March–April 2026 and repeatedly advocated for the target in hearings (e.g., questioning Treasury Secretary Bessent), showing clear, material support and legislative action. The federal deficit itself remains above 3% of GDP (CBO reported a $1.2 trillion deficit for the first half of FY2026), so the numerical goal has not been achieved yet; however, because the promise was to support the target and Cramer actively advanced that policy in the same term, the promise is considered delivered.
Cramer promised to support reducing the federal deficit to 3% of GDP by 2030, and the evidence shows he materially supported that policy during his current Senate term by co-introducing the bipartisan 3% Resolution and pressing the Treasury Secretary on the target. The fiscal outcome itself has not yet been achieved, and 2030 remains in the future, but the promise is framed as support for the target rather than guaranteeing the deficit level by the adjudication date.
While Senator Cramer co-sponsored a resolution supporting the goal of reducing the federal budget deficit to 3% of GDP and there is evidence of some bipartisan legislative effort and public advocacy, the available fiscal data shows the federal deficit remained far above the 3% of GDP target in 2026. There was no policy outcome or implementation that achieved the stated goal within the relevant term; however, there was a notable attempt to promote and legislate toward this objective.
Senator Cramer made a substantial legislative effort to support reducing the federal budget deficit to 3% of GDP by 2030, including introducing a bipartisan resolution and advocating for the fiscal target in hearings and discussions with high-level officials. Despite these efforts, the federal budget deficit for 2026 remains far above the 3% of GDP goal, with the Congressional Budget Office reporting a $1.2 trillion deficit in the first half of the fiscal year. Therefore, while the effort was meaningful and bipartisan, the promised outcome was not delivered.
Kevin Cramer made a clear and specific promise to support reducing the federal budget deficit to 3% of GDP by 2030. Evidence shows he co-introduced a bipartisan resolution supporting this goal, advocated for the target in committee hearings, and engaged with Treasury officials. However, as of the relevant reporting period in 2026, the federal deficit remains well above this threshold (over $1 trillion for the first half of FY 2026), and there is no evidence of enactment of laws or actual policy achieving the 3% target. There is, however, serious legislative and advocacy effort to move towards the goal, as reflected by sponsorship of resolutions and ongoing bipartisan discussions.
Senator Kevin Cramer pledged to support reducing the federal budget deficit to 3% of GDP by 2030. While the deficit has declined slightly compared to the previous fiscal year, the federal budget deficit remains well above the 3% GDP target. Importantly, Cramer demonstrated clear legislative effort—co-introducing the '3% Resolution' and actively advocating for deficit reduction, including engaging with Treasury officials. However, neither the specific target has been reached nor is there evidence of substantial progress toward achieving a deficit of 3% of GDP by 2030 so far. The promise is thus only partially fulfilled with significant effort.