The U.S. House of Representatives passed a budget today that changes the direction of Washington's spending, rejecting a Democratic alternative that proposed new stimulus spending and $1.2 trillion of higher taxes on families and Texas energy businesses.
On a vote of 221 to 207, the House approved a budget that balances within ten years, repeals ObamaCare and begins taking steps to make Medicare and Social Security sustainable over the long-term.
"With many American families and young people struggling through the weakest economic recovery of our lifetime, the best thing we can do to create more jobs is to force Washington to address the issues that are holding our economy back," said U.S. Congressman Kevin Brady (R-Texas), chairman of the Joint Economic Committee. "That means fixing our broken tax code, living within our means, repealing the President's job-killing health care law and taking the steps necessary to save Social Security and Medicare for the long haul."
A recent study by noted economists at the Hoover Institution estimate the Republican budget would boost the U.S. economy by a significant 1% next year, adding new jobs and $1,500 to the disposable income of average Americans. The budget would shrink the size of Washington to its historical levels and reduce the public debt of the nation.
Brady, a long time member of the Republican Study Committee, also supported the budget proposed by House conservatives that balances in four years. That measure, which Brady calls a "tough love budget", failed on a vote of 104 to 132.
The House budget now goes to the Senate which has not passed a budget in nearly four years. Like their counterparts in the House, Senate Democrats have proposed a spending plan that calls for higher taxes, weaker defense and a growing national debt.
"If you like bigger government, fewer jobs and a budget that never balances, the Democrat budget is the one for you," noted Brady.