The U.S. House of Representatives today voted for passage of the House Budget Resolution for Fiscal Year 2014, H. Con. Res. 25. As a member of the House Budget Committee, Congresswoman Jackie Walorski applauded the passage of a budget that will balance in 10 years, spur economic growth, and enable job creation.
"American families deserve a serious budget that balances without taking more money out of their pockets," said Walorski. "I am proud to support this commonsense plan to reduce wasteful spending, jumpstart the economy, and put more Hoosiers back to work--without raising taxes."
The House budget plan reduces federal spending by $4.6 trillion over the next decade and calls for revenue neutral tax reform. According to Stanford University economists, this budget could result in $1500 in additional household income for taxpayers by next year, and $4000 more by 2024.
"If Senate Democrats pass their budget, the American people will have a clear choice between our budget that creates more opportunities for hardworking families, or a budget that increases taxes and wasteful spending--jeopardizing the American dream for future generations," said Walorski.
The House Budget Resolution passed Committee last week and will now be sent to the Senate for consideration. Senate Democrats are currently working on a separate budget that imposes approximately $1 trillion in new taxes, increases federal spending, and never balances. President Obama has still not presented a budget to Congress.