Congressman Lee Terry (R-NE) today voted in favor of the budget plan proposed by House Budget Committee Chairman Paul Ryan (R-WI) for the 2014 fiscal year.
The budget resolution that passed the House of Representatives by a vote of 221-207 promises to balance the nation's budget in ten years - without raising taxes.
"My vote today was to put our nation's finances on a ten year pathway to balancing the budget and make the necessary reforms to strengthen Social Security and Medicare for future generations," said Rep. Terry. "This budget suggests much-needed reforms to the U.S. tax code to incentivize American competitiveness and create jobs which I believe is the appropriate focus of tax reform."
The House Republican budget proposes to slow the average annual growth of federal spending from five percent to 3.4 percent. In total, this detailed budget plan brings $4.6 trillion of much-needed spending reforms. The budget also fully funds our nation's military at levels requested by the Joint Chiefs of Staff.
For the first time in four years, the Senate will also pass a budget and reconcile their plan in a conference with the House of Representatives.
"I'm glad that we're back on a path to regular order," concluded Terry. "As a subcommittee Chairman who works directly with American job creators, I hear first hand how kicking the can down the road like we have the last four years has devastated our nation of builders."