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Pro-Growth Budgeting Act of 2013

Floor Speech

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Date:
Location: Washington, DC

Keyword Search : Tax Cut

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Mr. YOUNG of Indiana. Mr. Chairman, I rise in support of the Pro-Growth Budgeting Act of 2013.

I thank Dr. Price for his leadership on this issue.

Now, this issue may strike many Americans as somewhat arcane, but it has very important and real-world implications for our Nation's economic growth, for job creation, and for wage levels.

Under current law, when legislation is introduced, our Budget Office is prevented from taking into account how individual Americans will actually respond to that legislative proposal; so our Budget Office has to produce this artificial sort of analysis, failing to accurately estimate the true costs or benefits of a given proposal. This obscures, for policymakers, for members of the media, and for many rank-and-file Americans, the true negative impact that tax hikes can have on our Nation's economy, on the private sector, and so forth; and it fails to recognize how tax cuts can actually stimulate the very work, savings, and investment that lead to jobs, higher wages, and a secure retirement.

So the Price bill takes an important first step to eliminating CBO's unrealistic economic analysis by requiring CBO to apply real-world analysis of the impact a proposal will have on our Nation's economy.

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