Late last night, an agreement was reached to avoid a government shutdown and ensure our troops and their families will see no interruption in their pay. In doing so, we will save $79 billion from the President's budget and have moved the ball down the field and closer to the goal line which is to reduce spending and change the direction of our country.
To be clear, the fight does not stop here. In fact, it has just begun. We will continue to fight for fundamental reforms like those contained in Paul Ryan's "Path to Prosperity" budget proposal, for fundamental tax reform and for easing the regulatory burden on our job creators.
Here are some key facts on the bipartisan agreement:
* THE LARGEST SPENDING CUT IN AMERICAN HISTORY. At $79 billion below the President's budget request, the agreement will immediately cut $38.5 billion in federal spending.
* GUARANTEES SENATE VOTE ON REPEAL OF OBAMACARE. The agreement reached with Senate Democrats guarantees a Senate debate and vote on legislation that would repeal President Obama's government takeover of health care in its entirety. The House passed such legislation in January as part of the Pledge to America.
* NEW TOOLS IN THE FIGHT TO REPEAL OBAMACARE. By requiring numerous studies that will force the Obama Administration to reveal the true impact of the law's mandates, the agreement will add new tools in our efforts to peel back ObamaCare. The agreement requires:
o a study of how individuals and families will see increased premiums as a result of certain Obamacare mandates;
o a full audit of all the waivers that the Obama Administration has given to firms and organizations -- including unions - who can't meet the new annual coverage limits;
o a full audit of what's happening with the comparative effectiveness research funding that was in Obamacare and the president's failed "stimulus" spending bill; and
o a report on all of the contractors who have been hired to implement the law and the costs to taxpayers of such contracts.
* DENIES ADDITIONAL FUNDING TO THE IRS. The agreement denies the Obama administration the increased federal funding it has sought for the Internal Revenue Service (IRS) -- money that could be used to hire additional agents to enforce the administration's agenda on a variety of issues.
* GUARANTEES SENATE VOTE & DEBATE ON DE-FUNDING PLANNED PARENTHOOD. The agreement with Senate Democrats guarantees a Senate debate and vote on legislation that would end federal funding for Planned Parenthood, the nation's largest provider of abortions.
* BANS TAXPAYER FUNDING OF ABORTION IN THE DISTRICT OF COLUMBIA. The agreement includes a complete ban on taxpayer funding of abortion in the District of Columbia.
* MANDATORY AUDITS OF THE NEW JOB-CRUSHING BUREAUCRACY SET UP UNDER DODD-FRANK. The agreement subjects the job-destroying Dodd-Frank law to yearly audits by both the private sector and the Government Accountability Office (GAO) to monitor its impact on the economy, including its impact on jobs, by examining whether sound cost-benefit analyses are being used with rulemakings.
This agreement is not perfect but it is important step to advance our work in the larger fights ahead. I will keep fighting for deeper cuts in spending, the full repeal of ObamaCare and for a government that lives within its means and the boundaries set out in the U.S. Constitution.