Legislative Text – Conference Report – Summary Tables – Statement from Chairmen Price and Enzi – Reconciliation Guidelines – Reconciliation Legislative Text – Reconciliation Committee Report
A Congressional Budget that balances within 10 years, does not raise taxes, strengthens our nation’s defense, protects our most vulnerable citizens, improves economic growth and opportunity for hardworking families and stops the federal government’s out of control spending.
Congressional Balanced Budget Resolution:
• Balances the Budget within 10 years without Raising Taxes
• Ensures a Strong National Defense
• Repeals Obamacare to Start Over with Patient-Centered Reforms
• Strengthens Medicare
• Protects Social Security
• Supports a Healthier Economy and Stronger Economic Growth
• Improves Efficiency, Effectiveness & Accountability of Government
Congressional Balanced Budget by the Numbers:
• $5+ trillion in savings.
• $32 billion surplus in 2024, $24 billion surplus in 2025, and stays in balance in the out-years.
• $400 billion in additional economic growth over the next 10 years, according to CBO.
• 1.2 million additional jobs over the next 10 years, based on CBO data.
• 2001 – Restores the trust of hardworking taxpayers by passing the first joint ten-year balanced budget resolution since 2001.
Ensures a Strong National Defense
• Provides for a strong national defense through immediate increases in funding for our military men and women as well as more robust resources for troop training, equipment and compensation.
• Invests in our military personnel and the readiness of our Armed Forces in the current global threat environment.
• Ensures defense spending reflects the commitment of Congress to keep America safe and ensure our military personnel are prepared to tackle all challenges both at home and abroad.
• Repeals Obamacare – including all of its taxes, regulations and mandates.
• Paves the way for real, patient-centered reforms to strengthen the doctor-patient relationship, expand choices, lower health care costs and improve access to quality, affordable, innovative health care.
• Focuses reconciliation instructions on the key Congressional committees of jurisdiction over Obamacare – the Senate Finance Committee and Senate Health, Education, Labor and Pensions Committee and the House Energy and Commerce Committee, the House Education and the Workforce Committee and the House Ways and Means Committee.
• Preserves Medicare and protects seniors’ access to health care by extending the life of the Medicare Hospital Insurance Trust Fund.
• Repeals the Independent Payment Advisory Board (IPAB), the unelected, unaccountable board of 15 bureaucrats created by the President’s health care law.
• Accounts for the recent enactment of legislation that addressed the Medicare program’s sustainable growth rate formula (SGR) – aka the “doc fix.”
Supports Stronger Economic Growth
• Boosts U.S. economic growth and private sector job creation by balancing the budget, reducing the debt and putting a halt to government overspending to reduce the cost of work and investment, as well as the costs of starting and growing a business.
• Expands the nation’s economy by more than $400 billion over the next 10 years, according to the Congressional Budget Office.
• Provides an estimated 1.2 million additional jobs for the U.S. economy by 2025, based on data provided CBO.
Improves Efficiency, Effectiveness & Accountability of Government
• Improves transparency, efficiency, effectiveness and accountability of the federal government by cutting waste, eliminating redundancies and enacting regulatory reform.
• Calls for modernizing Medicaid by increasing State flexibility and protecting those most in need of assistance.
• Improves honest and responsible accounting practices as part of the federal budget process by ensuring that fair value accounting estimates along with FCRA estimates, in addition to dynamic scoring and static scoring, are used.
• Improves the administration and coordination of benefits; and increases employment opportunities for disabled workers.
• Calls on Congress to pass a balanced budget amendment to the Constitution.