On Wednesday, March 16 the House Budget Committee will markup a budget that balances within 10 years and puts the country on a path to eventually pay off the national debt. The budget will once again put forward positive conservative solutions to prioritize funding for national security, to save and strengthen health and retirement security programs, to restore the principle of federalism for programs better handled by the states, to simplify the tax code and make it more competitive, and to eliminate the waste, fraud and abuse of taxpayer dollars.
- Balances the budget within 10 years and stays in balance.
- Reduces the deficit by $7 trillion through a combination of $6.5 trillion in spending cuts and stronger economic growth.
- Reduces debt held by the public from 76% to 57% of GDP within 10 years
- Increases economic output per person by $1,100 in 2026 and $4,900 in 2040 based on CBO data.
- Requires total discretionary spending to be lower than 2008 levels.
- Includes reconciliation to help put conservative solutions on the President’s desk.
- Calls for passing $30 billion in mandatory savings over 2-years.
- Fully funds the national defense base budget at $574 billion in FY17.
- Repeals Obamacare in its entirety and starts over with patient-centered reforms.
- Saves Medicare by moving to an improved model that provides better quality, choices and value to seniors, saving both patients and the government money.
- Provides more flexibility to states for managing Medicaid, nutrition assistance, education, and other programs.
- Calls for work requirements to be included within social safety net programs.
- Ends “double dipping” into both disability and retirement programs.