Today, House Budget Committee Chairman Paul Ryan of Wisconsin introduced the fiscal year 2015 House Republican budget: The Path to Prosperity. Tomorrow, the House Budget Committee will mark up the proposal.
This year's proposal cuts $5.1 trillion in government spending. According to the Congressional Budget Office, the proposed deficit reduction would boost the economy. As a result of commonsense spending restraint and much-needed economic growth, the budget balances in ten years and starts paying down the debt.
Since retaking the majority, House Republicans have put forward a budget in each of the past four years. Each budget has been submitted on time and shown a clear path to balance.
Upon release of the budget, Ryan issued the following statement:
"This is a plan to balance the budget and create jobs, and it builds off a simple fact: We can't keep spending money we don't have.
"This budget provides relief for families. Too many Americans struggle to make ends meet, while Washington continues to live beyond its means. It's irresponsible to take more from hardworking families to spend more in Washington. Today's proposal--The Path to Prosperity--shows that it's not too late to tackle our country's most pressing challenges.
"The Bipartisan Budget Act was a good first step. But we can and must do more. As the House majority, we have a responsibility to lay out a long-term vision for the country, and this budget shows how we will solve our nation's biggest challenges.
"By cutting wasteful spending, strengthening key priorities, and laying the foundation for a stronger economy, we have shown the American people there's a better way forward."
Key Facts on the fiscal year 2015 Path to Prosperity:
Within ten years, the budget reaches balance and begins to pay down the debt.
According to CBO, the budget would grow the economy.
It cuts government spending by $5.1 trillion over the next ten years.
It strengthens important priorities like Medicare and national security.
It repeals Obamacare, clearing the way for patient-centered health-care reform.
It calls for reforms to repair the broken safety net and expand opportunity for all.
It overhauls the broken tax code and promotes American energy security.
The Bipartisan Budget Act of 2013 provides funding levels for fiscal year 2015, which this budget adheres to.
Senate Democrats have decided not to offer a budget resolution this year.
The President has moved even further to the left.
His budget proposal raises taxes by $1.8 trillion.
It increases spending by $791 billion.
It never balances the budget--ever.
To read the fiscal year 2015 House Republican Budget:
Path to Prosperity blueprint: http://budget.house.gov/UploadedFiles/FY15_Blueprint.pdf
Summary tables: http://budget.house.gov/UploadedFiles/FY2015_Summary_Tables.pdf
The House Budget Committee will consider this budget proposal tomorrow, Wednesday, April 2, 2014. The committee will convene at 10:30 am ET in the Cannon House Office Building, Room 210.
For more, please visit: budget.house.gov/fy2015