U.S. Representative Gregg Harper (R--Miss.) today voted in support of a budget that reduces future federal government spending by $5.8 trillion over the next decade relative to the current-policy baseline.
"This House Republican budget strengthens the fiscal health of our nation and protects the solvency of our seniors' health and retirement programs," said Harper. "In order to address the United States' long-term financial needs, Congress must advance a budget that reduces spending, reforms our outdated tax code and removes regulatory burdens that cripple our small businesses."
H.Con.Res. 34 establishes the budget for the U.S. government for fiscal year 2012 and projects budget levels for fiscal years 2013 through 2021. The proposal, titled "The Path to Prosperity," is the first plan to fund the federal government under the new Republican majority in the House and proposes entitlement reforms, which is a historical step for Congress.
In comparison to the President's budget request, this legislation decreases the deficit by $4.4 trillion over ten years.
This budget pays off the national debt by 2060, which would be the first time the federal government has held no debt since President Andrew Jackson's Administration, and balances the budget by 2040.
"I am committed to creating jobs, driving down spending and shrinking the size of the federal government," added Harper. "This budget accomplishes that goal by eliminating wasteful government programs and prolonging the solvency of efficient supports that guard our nation's underprivileged."
In the 111th Congress, the Democratic-led House failed to produce and pass a budget for fiscal year 2011 -- the first time the House did not develop a budget in over 35 years.