Ryan on Passage of Responsible Deficit Reduction Package
House Republicans advance common-sense reforms to promote prosperity; President and his party’s leaders insist on European-style austerity
WASHINGTON – Earlier today, the U.S. House of Representatives passed H.R. 5652, the Sequester Replacement Reconciliation Act of 2012, a package of reforms aimed to avert across-the-board cuts to our armed forces and key priorities, reduce the deficit, and foster a better environment for job creation. Replacing the “sequester” with sensible reductions in indefensible government spending would result in net deficit reduction of $242.8 billion according to the Congressional Budget Office.
Earlier this week, Senate Majority Leader Harry Reid stated his preference for allowing the sequester to hit unless Washington imposed massive tax increases on working families. Senator Reid’s position that the sequester represents a “balanced” approach to deficit reduction puts him at odds with Defense Secretary Leon Panetta, who has warned that the sequester is “unworkable” and would “hollow out” our armed forces.
Upon passage of H.R. 5652, House Budget Committee Chairman Paul Ryan of Wisconsin issued the following statement:
To learn more about the House Republicans’ efforts to ensure the troops and military families don’t pay the price for Washington’s failure to budget responsibly: /Reconciliation/