Balancing the Budget
Families and small business owners all across America know that sometimes difficult decisions must be made in order to balance their budgets – and so should Congress and the President. Whether monthly or annually, we all set priorities and make decisions about how we spend the money that we have earned. The basic principle behind balancing our nation’s checkbook is simple: you can’t spend more money then you take in.
Although D.C. Democrats believe that we should tax and spend our way to prosperity, House Republicans have a different approach – one that balances our nation’s finances without raising taxes and pays off the national debt.
This week marks the fourth year in a row that House Republicans have passed a responsible budget – one that shows the American people that the federal government can stop spending money it doesn’t have and start living within its means.
Specifically, our blueprint for federal spending provides much-needed reforms to programs that grow each year without Congressional action and are the true drivers of our nation’s record debt. Our spending blueprint cuts wasteful government spending by $5.1 trillion over the next ten years, it repeals Obamacare to make room for patient-centered reforms, and it lowers tax rates for all American families.
Our balanced approach also outlines an all-of-the-above energy plan that creates more jobs and lowers energy bills, and it overhauls the federal tax code to boost wages, bring more jobs home, and make our manufacturers and entrepreneurs more competitive.
The House-passed plan provides our troops with the training they need and the compensation they deserve, strengthens Medicare for future generations, and helps Americans enjoy a more secure retirement.
Working Americans deserve to keep more of their hard earned paycheck to support themselves and their families. The non-partisan Congressional Budget Office estimates that the economic effects of our budget would increase economic output by 1.8 percent. That translates to more take-home pay for Americans to the tune of $1,100.
House Republicans have solutions to expand opportunities for everyone and build an America that works. Our balanced budget solution will grow the economy by getting Americans working again and ensure that our children and grandchildren inherit a stronger, more prosperous America.