Press Releases
Bureau of Economic Analysis: PCE Inflation Rose by 2.7 Percent in April
WASHINGTON, D.C. - Today the Bureau of Economic Analysis (BEA) reported that the Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred measure of inflation, rose by 2.7 percent over the last year for the month of April. This is unchanged from March’s 2.7 percent. House Budget Committee Chairman Jodey Arrington (R-TX) issued the following statement on PCE rising 2.7 percent over the last year in April: How bad was the impact of Democrats’ spending spree and … Continue Reading
May 30, 2024
Bureau of Economic Analysis: GDP Growth for Q1 was Just 1.3 Percent, Even Lower than Previously Estimated
WASHINGTON, D.C. - Today, the Bureau of Economic Analysis (BEA) released its second estimate for economic growth in the first quarter (Q1) of 2024. The report found that real U.S. Gross Domestic Product (GDP) grew by 1.3 percent, .3 percentage points lower than forecasted last month. This finding underscores that President Biden’s failed economic policies have been a disaster for the economy. Chairman Arrington's Statement on GDP Growth: House Budget Committee Chairman Jodey Arrington … Continue Reading
May 29, 2024
Interest Costs Skyrocket by 152 Percent Under President Biden
WASHINGTON, D.C. - Under President Biden, the cost to service our national debt has skyrocketed. Since January 2021, spending on interest has grown by an astonishing 152 percent. For context, during the same period, spending growth for key areas: 33 percent growth in spending for Social Security 21 percent growth in spending for Medicaid 15 percent growth in spending for Defense 14 percent growth in spending for Medicare Interest is the fastest growing obligation in the federal … Continue Reading
May 28, 2024
Consumer Confidence Wanes for Second Consecutive Month, Fears of Looming Recession Continue to Grow
WASHINGTON, D.C. - Today, the Conference Board released its report entitled, “Confidence Ticks Up after Three Straight Declines but Consumers Remain Anxious about the Future,” evaluating Consumer Confidence for May 2024. The report described Consumers’ perceived likelihood of a recession over the next 12 months rose for the second consecutive month in May. The Conference Board Consumer Confidence Index® measures the optimism or pessimism of households about their financial situation and their … Continue Reading
May 24, 2024
What They Are Saying: H.R. 8372, the Debt Per Taxpayer Information Act
WASHINGTON, D.C. - Last week, the House Budget Committee marked up five additional budget process reform bills, including H.R. 8372, the “Debt Per Taxpayer Information Act.” The bill was favorably reported by the House Budget Committee on a bipartisan vote of 21 ayes to 4 nays. The “Debt Per Taxpayer Information Act,” sponsored by Chairman Jodey Arrington (R-TX), would provide each American filing a tax return with information on their W-2 about federal revenues, outlays, and deficit in the … Continue Reading
May 24, 2024
What They Are Saying: H.R. 8341, the Cost Estimates Improvement Act
WASHINGTON, D.C. - Last week, the House Budget Committee marked up five additional budget process reform bills, including H.R. 8341, the “Cost Estimates Improvement Act.” The bill was favorably reported by the House Budget Committee on a bipartisan vote of 17 ayes to 7 nays. The “Cost Estimates Improvement Act,” sponsored by Rep. Michael Cloud (R-TX), Rep. Ed Case (D-HI), Rep. Dan Meuser (R-PA), Rep. Jared Golden (D-ME), and Rep. Tom McClintock (R-CA), will require the Congressional Budget … Continue Reading
May 23, 2024
House Budget Committee Holds Hearing to Examine Budgetary Effects of Growing Health Care Consolidation
WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX), Health Care Task Force Chair Michael Burgess (R-TX), and members of the House Budget Committee held a hearing titled “Breaking up Health Care Monopolies: Examining the Budgetary Effects of Health Care Consolidation.” Today’s hearing brought together House Budget Committee members and health care experts and stakeholders to investigate the budgetary effects of consolidation in health care markets and policy … Continue Reading
May 23, 2024
Chairman Arrington Delivers Opening Remarks at “Breaking Up Health Care Monopolies: Examining the Budgetary Effects of Health Care Consolidation” Hearing
Washington, D.C.-Today, House Budget Committee Chairman Jodey Arrington (R-TX) delivered opening remarks at the Committee hearing titled “Breaking Up Health Care Monopolies: Examining the Budgetary Effects of Health Care Consolidation.” This hearing is focused on the budgetary effects of increasing health care consolidation and exploring policy solutions to enhance competition, with the objective of reducing health care costs and expanding patient choices. Click HERE to watch Chairman … Continue Reading
May 22, 2024
What They Are Saying: H.R. 8343, the Enhancing Improper Payment Accountability Act of 2024
WASHINGTON, D.C. - Last week, the House Budget Committee marked up five additional budget process reform bills, including H.R. 8343, the “Enhancing Improper Payment Accountability Act of 2024.” The bill was favorably reported by the House Budget Committee on a bipartisan vote of 18 ayes to 7 nays. The “Enhancing Improper Payment Accountability Act,” sponsored by Rep. Blake Moore (R-UT) and Rep. Abigail Spanberger (D-VA), would impose timely reporting requirements for new federal spending … Continue Reading
May 22, 2024
What They Are Saying: H.R. 8342, the Improper Payments Transparency Act
WASHINGTON, D.C. - Last week, H.R. 8342, the “Improper Payments Transparency Act” was favorably reported by the House Budget Committee on a bipartisan vote of 18-7. The “Improper Payments Transparency Act,” led by Budget Process Reform Task Force Chairman Rep. Rudy Yakym (R-IN), Rep. Jimmy Panetta (D-CA), Rep. Jack Bergman (R-MI), and Rep. Scott Peters (D-CA),would direct the President to include the amounts and rates of improper payments at each executive branch agency, year-over-year … Continue Reading
May 21, 2024
What they are Saying: H.R. 8195, the Strengthening Administrative PAYGO (SAP) Act of 2024
WASHINGTON, D.C. - Last week, H.R. 8195, the “Strengthening Administrative PAYGO (SAP) Act of 2024” was reported by the House Budget Committee to the House with a favorable recommendation by a vote of 16-9. “The SAP Act,” sponsored by Oversight Task Force Chair Jack Bergman (R-MI) and Chairman Jodey Arrington (R-TX), would provide transparency on unchecked administrative spending by ensuring the Executive Branch is held accountable when issuing costly executive actions. “The SAP Act” has the … Continue Reading
May 17, 2024
Chairmen Arrington, Smith Request Budgetary Analysis of Biden Plan to Permanently Expand Obamacare Subsidies for the Wealthy
WASHINGTON, D.C. - House Budget Committee Chairman Jodey Arrington (R-TX) and House Ways and Means Committee Chairman Jason Smith (R-MO) sent a letter to Congressional Budget Office (CBO) Director Phillip Swagel and Joint Committee on Taxation (JCT) Chief of Staff Thomas Barthold requesting a comprehensive analysis of the budgetary effects of making permanent the enhanced Obamacare subsidies - as called for in President Biden’s budget - which have gone to some of the nation’s highest … Continue Reading
May 17, 2024
House Budget Committee Reports Five Budget Process Reform Initiatives Favorably to the House
WASHINGTON, D.C. - Yesterday, the House Budget Committee held a markup of five bills regarding Budget Process Reform. All five bills were reported favorably out of the Committee to the House. These bills will reform the budget process and help ensure American taxpayers monies are not being wasted. The bills marked up include: H.R. 8341, the “Cost Estimates Improvement Act.” Sponsors: Rep. Michael Cloud (R-TX), Rep. Ed Case (D-HI), Rep. Dan Meuser (R-PA), Rep. Jared Golden (D-ME), and Rep. … Continue Reading
May 16, 2024
Chairman Arrington on The Larry Kudlow Show
WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined The Larry Kudlow Show on Fox Business. Chairman Arrington joined Kudlow and Economist Art Laffer to talk about the pains of President Biden’s failed economic policies. Chairman Arrington on Inflation: “Well, you've got to be really good and intentional about squeezing the supply side while you're flooding the demand side with federal monies, the supply side is squeezed by the things you just mentioned. … Continue Reading
May 16, 2024
Chairman Arrington Delivers Opening Remarks at a Markup of Five Budget Process Reform Bills
WASHINGTON, D.C. - Today, Chairman Jodey Arrington (R-TX) delivered opening remarks at the markup of five budget process reform bills. Those bills are: H.R. 8341, the “Cost Estimates Improvement Act.” H.R. 8195, the “Strengthening Administration PAYGO Act of 2024.” H.R. 8372, the “Debt Per Taxpayer Information Act.” H.R. 8342, the “Improper Payments Transparency Act.” H.R. 8343, the “Enhancing Improper Payment Accountability Act.” Click HERE to watch Chairman Arrington’s opening … Continue Reading
May 15, 2024
Chairman Arrington Introduces Legislation to Provide Taxpayers Transparency on the Public Debt
WASHINGTON, D.C. - House Budget Committee Chairman Jodey Arrington (R-TX) introduced legislation that would inform and educate the American people on the nation’s fiscal trajectory and what it means for them and their families. H.R. 8372, the Debt Per Taxpayer Information Act, would provide each American filing a tax return with information on their W-2 about federal revenues, outlays, and deficits in the latest available tax year, the total gross debt, and the estimated debt per taxpayer. It … Continue Reading
May 15, 2024
Bureau of Labor Statistics: CPI Inflation at 3.4 Percent in April
WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) released the following statement after the Consumer Price Index (CPI) report for April showed that inflation increased by 0.3 percent, with year over year inflation at 3.4 percent. Since President Biden took office, prices have increased by a total of 19.3 percent. Chairman Arrington on Today's Inflation Report: “The trend of rising monthly prices and high yearly inflation is very concerning, especially coupled … Continue Reading
May 14, 2024
CBO Report on Inflation Covers Up the Harmful Effect of Bidenomics on the Economy
WASHINGTON, D.C. - Today the Congressional Budget Office (CBO), released a report entitled, “An Update About How Inflation Has Affected Households at Different Income Levels Since 2019.” This was an update to a report from September 2022. The updated report, requested by Senate Budget Committee Chairman Sheldon Whitehouse (D-RI), shows the cumulative inflation effects on households since 2019. This five-year cumulative look back, with no year-by-year breakdown, conflates the positive … Continue Reading
May 13, 2024
The Cost of the Border Crisis: $150.7 Billion and Counting
WASHINGTON, D.C. - Yesterday, the House Budget Committee held a hearing entitled “The Cost of the Border Crisis” to highlight the importance of border security and the fiscal implications of President Biden’s failed border policies. Witnesses from the Federation for American Immigration Reform (FAIR), Texas Public Policy Foundation’s “Secure and Sovereign Texas” Initiative, and Kinney County, Texas, testified before the committee to show the impacts of the border crisis, particularly the … Continue Reading
May 11, 2024
Chairman Arrington Joins Maria Bartiromo’s Wall Street to Discuss the Looming Social Security, Medicare Insolvency and the Cost of the Border Crisis
WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined Maria Bartiromo’s Wall Street on Fox Business to discuss the looming insolvency of Social Security and Medicare and the Committee’s “Cost of the Border Crisis” hearing held on Wednesday. On Monday, the Social Security and Medicare Trustees annual reports were submitted to Congress. The reports highlight the alarming financial predicament for the future of the Social Security and Medicare programs that … Continue Reading
