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Public Statements

Blog: Question of the Week: Fiscal Year 2013 Budget

Statement

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Question: Did you support the House Budget Committee's budget proposal for Fiscal Year 2013?

Answer: With my support, the House of Representatives approved the Committee's budget proposal, H.Con.Res.112, by a vote of 228-191 on March 29.

This budget tackles the drivers of our debt and averts the fiscal crisis ahead. This year, our nation's publicly held debt is projected to reach 73 percent of the economy--a dangerously high level that, according to leading economists, puts the nation at risk of a panicked run on its finances. The budget tackles this crisis by cutting debt as a share of the economy by roughly 15 percent over the next decade, putting the nation's finances on a path to balance, and paying off the debt.

The budget's Medicare reforms make no changes for those in or near retirement. For those who will retire a decade from now, the budget provides guaranteed coverage options financed by a premium-support payment. This includes a competitive bidding process, which will force health plans to compete against each other, achieving high-quality coverage at the lowest cost. This is the key to increasing access and affordability while preventing government debt from threatening the health security of seniors and the economic security of all Americans.

The budget lowers tax rates across the board, while allowing revenue to remain steady because it closes special-interest loopholes.

The budget puts our trust in citizens, not government.


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