Press Releases
THE CBO BASELINE AND ECONOMIC OUTLOOK
WHAT IS THE CBO BASELINE? The Congressional Budget and Impoundment Control Act of 1974 (Budget Act) requires the Congressional Budget Office (CBO) to provide the House and Senate Budget committees with a Budget and Economic Outlook. This annual report, which helps Congress understand the fiscal and economic challenges facing the country, is also known as the CBO baseline. CBO updates the baseline every year. The CBO will release the updated baseline on Wednesday, February 15th. PURPOSE … Continue Reading
February 09, 2023
Chairman Arrington Lays Groundwork for Budget Committee Priorities
WASHINGTON - Today, Chairman Jodey Arrington (TX) and Members of the House Budget Committee held their first official meeting to consider the Rules of the Committee and the Oversight Plan for the 118th Congress. During his opening remarks, Chairman Arrington emphasized the importance of this committee's role as Americans face runaway deficit spending and an unsustainable debt trajectory. Click here to watch Arrington's full remarks Chairman Arrington's opening remarks as … Continue Reading
February 08, 2023
The Debt Limit and Fiscal Restraint
House Republicans will pay our debts and protect the good faith and credit of the United States, but we will not give President Biden an unlimited line of credit. After two years and $10 trillion of unbridled spending by Democrats, which led to record inflation, soaring interest rates, and an economic recession, it would be irresponsible to raise the debt limit without common sense spending controls. Why? Our federal debt is now over $31 trillion, levels we have not seen since World War II … Continue Reading
February 07, 2023
Arrington: Biden Describes Alternate Reality in State of the Union
WASHINGTON - House Budget Committee Chairman Jodey Arrington (R-TX), issued the following statement in response to President Biden’s State of the Union Address: "After listening to President Biden tonight, I have a few simple questions for American taxpayers and hard-working families: Have your lives gotten better or worse under the leadership of President Biden? Is our nation stronger or weaker? Is our children’s future brighter or more bleak? "We certainly have more government, more … Continue Reading
February 07, 2023
Arrington: President Biden Must Focus on Nation’s Debt Crisis in SOTU
WASHINGTON - House Budget Committee Chairman Jodey Arrington (R-TX), issued the following statement ahead of President Biden’s State of the Union Address: “At tonight’s State of the Union, President Biden will tout a façade of short-term economic upsurge, but the American people are experiencing a very different reality: the state of our economy is anemic. “States like Illinois and Nevada continue to be plagued by record unemployment rates; New York City has transformed into a war zone; … Continue Reading
February 07, 2023
Chairman Arrington Announces Budget Committee Roster
WASHINGTON - Today, Budget Chairman Jodey Arrington (TX-19) announced the Republican committee roster for the 118th Congress. “I’m proud to serve alongside such a talented group of public servants whose unwavering commitment is to rein-in spending, reduce the national debt, and restore fiscal accountability to Congress. “My colleagues come from different backgrounds and have a variety of experiences, but all hold fast to a common mission - to steward taxpayer resources in a way that … Continue Reading
January 13, 2023
Chairman Arrington: We Will Not Let Politicians Bankrupt Our Country and Destroy Our Children's Future
Today, House Budget Committee Chairman Jodey Arrington (TX-19) released the following statement in response to Treasury Secretary Janet Yellen's letter to Congress on the debt limit: “We will pay our creditors and protect the good faith and credit of the U.S., but we will not let politicians bankrupt our country and destroy our children’s future. No new credit cards until Democrats agree to spending constraints and other fiscal … Continue Reading
January 10, 2023
Arrington Selected to Serve as Chair of House Budget Committee
WASHINGTON, D.C. - Yesterday, Representative Jodey Arrington (TX-19) released the following statement after being selected to serve as the Chairman of the House Budget Committee for the 118th Congress: “I am humbled by the confidence and trust of my colleagues to lead the effort to rein-in spending, reduce our debt, and restore fiscal responsibility in our nation’s capital as Chairman of the House Budget Committee. “With the national debt surpassing $31 trillion and over 120% of our … Continue Reading
January 02, 2023
Smith: 118th Congress House Rules Package Reflects Commitment to Restoring Fiscal Sanity, Accountability in Washington
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) applauded the introduction of a package of budgetary related rules to govern proceedings in the U.S. House of Representatives for the 118th Congress. The House Rules package proposes a number of specific policies to enforce fiscal discipline in Congress while eliminating previous provisions authored by House Democrats which made it easier to rapidly increase spending of taxpayer dollars in the 116th & … Continue Reading
December 30, 2022
Democrat-Controlled 117th Congress Sets Records for Spending & Debt
WASHINGTON, D.C. - With the end of one-party Democrat rule in Washington, House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement detailing the cost to the federal budget of one-party Democrat rule during the 117th Congress: “Democrats ended this Congress just as they began it, with President Biden and his allies ramming through a reckless $2 trillion spending bill. Over the last two years, the American people have seen their lives upended by one crisis … Continue Reading
December 28, 2022
Smith Op-Ed: Dems Put America On A Dangerous Path. Now, House Republicans Must Turn Things Around
By Rep. Jason Smith Daily CallerTwo years ago, Democrats began their one-party rule of Washington by passing a massive $2 trillion bill which led to the highest spike in prices in 40 years. That inflation crisis has now stolen nearly two months’ worth of pay from every working American since Joe Biden took the oath of office. With merely days left before Christmas, Democrats capped off their reign by spending yet another $2 trillion in a bill spread across 4,155 pages no lawmaker had a … Continue Reading
December 23, 2022
Democrats Push Another $2 trillion Spending Bill Before Turning Out the Lights on Their Majority
WASHINGTON, D.C. – Having begun the 117th Congress by passing a $2 trillion spending bill and sparking the worst inflation crisis in 40 years, Washington Democrats are ending their reign of one-party rule today by pushing another $2 trillion spending bill. The Democrats’ LATEST $2 Trillion Spending Bill: 9 percent ($131 billion) increase in base discretionary spending over FY 2022 – on top of the 7 percent increase in spending Democrats enacted last year. $20 billion … Continue Reading
December 22, 2022
Smith on Five-Year Anniversary of Tax Cuts and Jobs Act: Republican Tax Relief Delivered for American Families
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) released the following statement to mark the five-year anniversary of President Trump signing into law the Tax Cuts and Jobs Act (TCJA): “Thanks to Republican efforts and President Trump’s leadership, the Tax Cuts and Jobs Act kept its promise to build a stronger, more prosperous nation where families and workers can chase the American Dream. The law was a huge win in particular for the working class: it … Continue Reading
December 21, 2022
Smith: Bloated Spending Bill Is Everything Americans Can't Stand About Washington
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) released the following statement on the FY 2023 omnibus spending package to be voted on this week in Congress: “This massive $2 trillion year-end spending bill represents everything the American people can’t stand about Washington: more spending, more debt, more inflationary pressures spread across 4,155 pages. It will help extend President Biden’s record of increasing spending … Continue Reading
December 21, 2022
Smith-Bucshon Op-Ed: We need a rural health refocus
By Reps. Jason Smith and Larry Bucshon The Hill Despite improvements in the quality and delivery of health care in America, few in Washington comprehend the barriers to care rural Americans still suffer. Across the board, rural Americans face distinct health challenges compared to folks living in urban areas and are often sicker, spend more money on health care costs, and have access to fewer doctors and hospitals. We know this firsthand because we have seen it ourselves. We both grew up in … Continue Reading
December 14, 2022
Biden’s Latest Christmas Gift: Another Interest Rate Hike
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) released the following statement after the Federal Reserve continued its interest rate increases at the fastest rate in 40 years - raising interest rates by another 50 basis points, for a total increase of 4.25 percent, the seventh since March: “Today’s interest rate hike is President Biden’s latest Christmas gift to Americans. Family budgets this holiday season are already … Continue Reading
December 13, 2022
Smith: Thanks to Biden Inflation Crisis, Americans are Facing a Blue Christmas
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) released the following statement after the Consumer Price Index showed prices remaining at a 40-year high of 7.1 percent, with overall prices having risen 14.3 percent since Joe Biden became President: “Thanks to the spike in prices brought on by the Biden Administration and Congressional Democrats’ reckless spending, Americans are bracing for a blue Christmas. The tree, the … Continue Reading
December 01, 2022
More Pain Ahead in Biden Economy, Congressional Scorekeeper Projects
WASHINGTON, D.C. - The American economy is projected to experience weaker growth, higher unemployment, higher inflation, and higher interest rates than previously estimated, according to an analysis released yesterday by the Congressional Budget Office (CBO). When compared to CBO’s February 2021 baseline established when President Biden took office, economic and fiscal estimates have worsened dramatically after two years of one-party Democrat rule in Washington. House Budget Committee … Continue Reading
November 22, 2022
Biden Adds Another $25+ Billion to Taxpayers’ Tab, as White House Extends Student Loan Repayment Moratorium
WASHINGTON, D.C. - House Budget Committee Republican Leader Jason Smith (MO-08) issued the following statement after it was reported that the Biden Administration will extend the COVID-era student loan repayment moratorium, which to-date has cost taxpayers more than $100 billion, until as late as June 2023 - at a potential cost to taxpayers of $25.8 billion - while the Administration’s broader student loan giveaway to the wealthy is being struck down in the courts: “President Biden is … Continue Reading
November 17, 2022
Smith, Foxx Demand Answers on Biden’s Student Loan Giveaway to the Wealthy
WASHINGTON, D.C. - Following a court decision that struck down the Biden Administration’s executive order on student loans, House Budget Committee Republican Leader Jason Smith (MO-08) and House Education and Labor Committee Republican Leader Virginia Foxx (NC-05) demanded answers from the Biden Administration over its student loan giveaway to the wealthy in a letter sent to White House Office of Management and Budget (OMB) Director Shalanda Young. The ranking members ordered the agency to … Continue Reading
