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Congress Opens Budget Negotiations

March 23, 2015
Weekly Columns

In households across the United States, many families already understand that getting out of debt and staying out of debt requires a budget. Like the countless families who recognize the importance of setting spending limits and living within their means, Republicans have long agreed that the federal government should follow the same example.

During the last five consecutive years since taking majority, House Republicans have drafted budgets that acknowledge our nation’s unsustainable debt and offer real solutions for changing the debt trajectory. Until Senate Republicans claimed the majority, no such document had been proposed in that chamber for quite some time. In fact, for the first time in six years, the Senate is actually participating in the budget process.

Last week, I was pleased that both the House and Senate released their budget blueprints for fiscal year 2016 and completed mark-up meetings in the respective budget committees. While these proposals are not identical and have not won full consensus in either body yet, each reflects a budget that balances without tax hikes. By contrast, we should remember that the president’s budget submitted in February never balances and is instead filled with tax increases and even more spending.

As a member of the House Budget Committee, I was pleased to join Budget Chairman Tom Price in unveiling “A Balanced Budget for a Stronger America.” It should come as no surprise that this year’s budget contained similar items from previous years that deal with the nation’s more than $18 trillion in debt—a number that only continues to grow.

Under the responsible plan announced and passed through committee, balance is achieved without raising taxes. Instead, the blueprint cuts spending by $5.5 trillion, repeals the president’s unworkable healthcare law and reforms entitlement programs—like Medicare and Medicaid—that are struggling to survive. By making the difficult decisions today, the House Republican budget protects and reaffirms the promise of prosperity for future generations. Lawmakers are expected to consider the legislation on the House floor this week.

It is important to note, however, that whether from the president, House or Senate, a budget is only a plan—not the law. Entitlement reform, tax reform and spending restraints will require bipartisan and bicameral negotiation and compromise. Further, both budgets reflect the starting position in negotiating something we can all agree on. This budget is an important step – but only a first step – in an ongoing journey that will have many twists, turns and surprises along the way.

Issues:Economy & Small Business