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  • Price Statement on 2nd Quarter 2016 GDP Report
    Posted in Press Releases on July 29, 2016 | Preview rr

    WASHINGTON, D.C. – House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement in response to the GDP report released this morning that showed the economy grew by just 1.2 percent in the second quarter of 2016 – well below expectations. The first quarter estimate was also revised down to 0.8 percent from a previous estimate of 1.1 percent. “With over $19 trillion in debt, our nation cannot solve its fiscal challenges only through budget savings and program reforms. We ... Read more

  • Budget Chairmen: Dept. of Ed’s Rule Could Cost Taxpayers Billions
    Posted in Press Releases on July 15, 2016 | Preview rr

    WASHINGTON D.C. – Senate Budget Committee Chairman Mike Enzi (R-WY) and House Budget Committee Chairman Tom Price (R-GA) have asked the Department of Education for additional information concerning a new proposal by the department that could add as much as $41 billion to the cost of the federal student loan program over the next decade, according to an administration estimate. Read the full letter to the Department of Education here. Excerpts follow: “This is the latest in a series of administra... Read more

  • #RestoringTheTrust for America’s Seniors
    Posted in Press Releases on July 15, 2016 | Preview rr

    WASHINGTON, D.C. – Medicare and Social Security are going broke. That’s according to the Medicare and Social Security Trustees, as well as the Congressional Budget Office, who have repeatedly warned that these programs are fiscally unsustainable. But there is more to this story. As House Budget Committee Chairman Tom Price, M.D. (GA-06) put it during the Committee’s hearing this week on Restoring the Trust for Americans At or Near Retirement, “unfortunately, the financial well-being of the progr... Read more

  • Chairman Price Opening Statement: Restoring the Trust for Americans At or Near Retirement
    Posted in Speeches and Statements on July 13, 2016 | Preview rr

    As prepared for delivery Today’s hearing is the third in a series of hearings begun last summer when this committee embarked on a new initiative called Restoring the Trust for All Generations. This is an effort to raise awareness about the fiscal and policy challenges inherent in America’s health, retirement, and economic security programs. By focusing attention on these matters, we aim to build a broad consensus among our colleagues and the country at large around the need to do something to sa... Read more

  • Price Statement on Latest CBO Long-Term Outlook
    Posted in Press Releases on July 12, 2016 | Preview rr

    WASHINGTON, D.C. – House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement today after the Congressional Budget Office (CBO) released its latest Long-Term Budget Outlook showing the national debt climbing to 141 percent of GDP by 2046, with real economic growth remaining at a depressed 2.1 percent on average over the next 30 years, and Medicare and Social Security facing insolvency. “One wonders how anyone can look at this report and not feel compelled to take acti... Read more

  • Chairman Price Opening Statement: An Introduction to Regulatory Budgeting
    Posted in Speeches and Statements on July 7, 2016 | Preview rr

    As prepared for delivery Yesterday’s hearing focused on a series of different potential alternative budgeting methodologies. Today, we are focusing on a specific area of interest – regulatory budgeting. This is an area apart from the different styles of budgeting that would directly affect how this committee would allocate discretionary and mandatory spending. However, there is a direct connection between the financial impact of regulations on our economy – on American innovators, individuals, a... Read more

  • Price Opening Statement: Alternate Approaches to Federal Budgeting
    Posted in Speeches and Statements on July 6, 2016 | Preview rr

    As Prepared for Delivery This committee has spent its past several hearings examining the failures of the current Congressional budget process and the need to overhaul the system and rewrite the rules under which we budget. We have focused attention on the core challenges we face and the fundamental goals we ought to have in attempting to improve the way Congress approaches its fiscal responsibilities. Today, we will begin to shift our attention to what sort of specific approach or approaches c... Read more

  • Price Statement on Tax Reform Task Force Report
    Posted in Press Releases on June 24, 2016 | Preview rr

    WASHINGTON, D.C. – House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement on the release of the House GOP’s Task Force on Tax Reform report: “Americans are spending too much of their time and too much of their money trying to make sense of the nation’s tax code. It is a burdensome mess holding back our economy, weakening our competitive edge in the world, and making it harder for individuals, families, and businesses to succeed. Thankfully, the Task Force on Tax R... Read more

  • Price Statement on Trustees Report
    Posted in Press Releases on June 23, 2016 | Preview rr

    WASHINGTON, D.C. – House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement in response to the latest Medicare and Social Security trustees reports. According to the Trustees, Medicare's hospital insurance trust fund is expected to be insolvent in 2028 – two years earlier than previously estimated. Social Security will exhaust its reserves in 2034 after which the program will be able to pay only about three-quarters of scheduled benefits. “The trustees have sent ano... Read more

  • Price Opening Statement: Making Budget Enforcement More Effective
    Posted in Speeches and Statements on June 22, 2016 | Preview rr

    As Prepared for Delivery Over the past several weeks, this committee has held hearings focused on different aspects of our effort to reform the Congressional budget process. Budget enforcement – the subject of today’s hearing – has been a part of the discussion from the very beginning. And the reason is obvious. A budget that is not enforced – is not effective. Moreover, the budget process Congress ultimately adopts will only be successful if Congress is willing to enforce the budgets it approve... Read more