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."