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  • Working Paper on the Need to Control Automatic Spending and Unauthorized Programs
    Posted in HBC Publications on August 9, 2016 | Preview rr

    The prevalence of automatic spending in the Federal budget threatens to overwhelm fiscal policy and the economy. More than two-thirds of Federal spending (including interest payments) runs on effectively permanent authorizations, and Congress sets no limits on the totals. This form of spending, mostly for the government’s entitlement programs, is the sole cause of spending growth as a share of the economy, and the main contributor to the government’s mounting debt – which has reached its highest... Read more

  • Budget Committee Releases Working Paper on Reclaiming Constitutional Authority Through the “Power of the Purse”
    Posted in Press Releases on August 2, 2016 | Preview rr

    WASHINGTON, D.C. – Today, the House Budget Committee released its first in a series of working papers focused on the Committee’s effort to overhaul the Congressional Budget Act of 1974 and reform the congressional budget process. The paper follows a hearing the Committee held on May 25th that examined how Congress has ceded too much of its authority over spending to the Executive Branch and how this trend should be reversed in order to restore the Legislative Branch’s “power of the purse” as def... Read more

  • Working Paper on Reclaiming Constitutional Authority Through the “Power of the Purse”
    Posted in HBC Publications on August 2, 2016 | Preview rr

    Choosing priorities and allocating financial resources is the most straight-forward way for a legislature to shape governing policies. Moreover, a government’s budgeting system is central to determining the kind of governing system a country has. Hence, a vigorous practice of budgeting is fundamental to Congress’s policymaking authority under Article I of the Constitution. The United States’ Federal Government is not a parliamentary system. To the extent Congress cedes control of the budget, the... Read more

  • 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