WASHINGTON D.C. — Today, House Budget Committee Chairman Jodey Arrington issued the following statement following the Congressional Budget Office’s (CBO) release of its February 2024 budget baseline. “Today’s CBO baseline reveals that when Republicans stand firm on fiscal responsibility and force Congress to reduce spending, America’s fiscal outlook improves. While our debt trajectory remains unsustainable driven by Biden’s executive actions, mandatory spending, and interest … Continue Reading

February 07, 2024

CBO 2024 Baseline: The Baseline Under President Biden

The Deterioration of the Federal Budget Outlook Since Biden Took Office: Since January 20, 2021, the gross federal debt has increased by $6.4 trillion. To put that in perspective, the federal government has accumulated more debt in the last three years than in the first 214 years of the U.S. federal government (1789-2002). The debt continues to grow at an unsustainable rate under current policies. The latest Congressional Budget Office (CBO) baseline projected gross federal debt … Continue Reading

February 06, 2024

CBO 2024 Baseline: Reading the Fiscal Tea Leaves

Deficits Running Higher than CBO last Projected: The baseline details the Congressional Budget Office’s (CBO) projections for spending, revenue, deficits, debt, the economy, and specific federal programs and policies for the ensuing 10-year budgetary window. To that end, on February 7, 2024, CBO will publish its newest projections, “The Budget and Economic Outlook: 2024 to 2034.” CBO published its last update to the federal budget outlook nine months ago in May 2023. The report projected … Continue Reading

February 05, 2024

House Budget Committee to Hold Markup of Bills H.R. 766, H.R. 7032, and H.R. 5301

WASHINGTON, D.C. - On Tuesday, February 6th, Chairman Jodey Arrington (R-TX) and Members of the House Budget Committee will hold a markup of: H.R. 766, Preventive Health Savings Act Led by Representatives Burgess (R-TX) and DeGette (D-CO)H.R. 7032, Congressional Budget Office Data Sharing Act Led by Representatives Boyle (D-PA) and Chairman Arrington (R-TX)H.R. 5301, Eliminate Useless Reports Act of 2023 Led by Representatives Garcia (D-CA) and Grothman (R-WI) The markup is scheduled to … Continue Reading

February 05, 2024

CBO 2024 Baseline: Understanding the Baseline

What is the CBO Baseline? The Congressional Budget and Impoundment Control Act of 1974 (Budget Act) requires the Congressional Budget Office (CBO) to annually provide a Budget and Economic Outlook to the House and Senate Budget Committees; commonly known as the CBO baseline. The CBO baseline is updated each year and helps Congress understand the Nation’s fiscal and economic challenges. CBO will release the updated baseline on Wednesday, February 7, 2024. Generally, the CBO baseline … Continue Reading

February 05, 2024

BIDEN'S BUDGET BUST: Biden's Budget Misses 2024 Deadline

Under the Congressional Budget Act of 1974, President Biden is required to submit his FY25 budget request to Congress today, February 5, 2024. However, the administration has signaled the President’s FY25 budget proposal will be released March 11, 2024 - 35 days late. See below for a recap of last year’s Biden budget bust to see what we have to look forward to in T-minus 35 days. By the Numbers: Last year, President Biden’s FY 2024 budget request had the highest sustained levels of taxes, … Continue Reading

February 05, 2024

Arrington, Bergman Investigate Mismanagement of Pandemic-Era Unemployment Insurance

WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) and the entire Oversight Task Force, led by Rep. Jack Bergman (R-MI), sent an investigative letter to the Department of Labor (DOL) and the agency’s Office of Inspector General (OIG) outlining concerns around the OIG’s report on the mismanagement of pandemic Unemployment Insurance (UI) funds. Background: Originally authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, … Continue Reading

January 31, 2024

Chairman Arrington Delivers Opening Remarks at House Budget Hearing “Creating a Culture of Fiscal Responsibility: Assessing the Role of the Congressional Budget Office.”

WASHINGTON, D.C. - Today, House Budget Committee Chairman Jodey Arrington (R-TX) delivered the following opening remarks at the Committee’s hearing, “Creating a Culture of Fiscal Responsibility: Assessing the Role of the Congressional Budget Office.” Click HERE to watch the Chairman's statement as delivered Chairman Arrington’s Remarks as Prepared for Delivery Good morning, everyone. Director Swagel - thank you for joining us. Today, we’re going to our conduct our constitutional … Continue Reading

January 30, 2024

House Budget Committee Members Consider Ideas to Curb Improper Payments

WASHINGTON, D.C. - Today, the House Budget Committee convened a roundtable to discuss improper payments across the Federal government and opportunities for reform. The roundtable featured Gene Dodaro, Comptroller General and head of the Government Accountability Office (GAO), Orice Williams Brown, Chief Operating Officer of the GAO, Budget Committee Members, and others. Led by House Budget Committee Chairman Jodey Arrington (R-TX), the Member roundtable examined ways to address improper … Continue Reading

January 30, 2024

House Budget Committee to Hold a Hearing on “Creating a Culture of Fiscal Responsibility: Assessing the Role of the Congressional Budget Office”

WASHINGTON, D.C. - On Wednesday, January 31st, Chairman Jodey Arrington (R-TX), Ranking Member Brendan Boyle (D-PA), Oversight Task Force Chair Jack Bergman (R-MI) and members of the House Budget Committee will hold a hearing titled, “Creating a Culture of Fiscal Responsibility: Assessing the Role of the Congressional Budget Office.” The recently reappointed Congressional Budget Office (CBO) Director Phillip Swagel will appear before the Committee to answer questions on how CBO can be more … Continue Reading

January 24, 2024

WHAT THEY’RE SAYING: Bill Sponsors Laud Bipartisan Budget Committee Markup

The House Budget Committee made history by favorably advancing three budget process reform bills out of committee, on a bipartisan basis, for the first time in more than a decade. Committee members considered the following budget process reform proposals: H.R. 5779, the Fiscal Commission Act of 2024 (advanced by a vote of 22 - 12); H.R. 6952, The Fiscal State of the Nation Act (unanimously adopted and advanced by voice vote); and, H.R. 6957, the Debt to GDP Transparency and … Continue Reading

January 23, 2024

WHAT THEY’RE SAYING: Supporters Sound Off on Passage of Debt Commission in Bipartisan Committee Markup

Last week, the House Budget Committee held a markup for three bipartisan budget process reform proposals, including the Fiscal Commission Act of 2024. All the proposals passed out of Committee—and it’s got people talking. From stakeholders to journalists, to industry experts to policymakers on both sides of the aisle, people are excited for what these legislative proposals could mean for the future of Washington’s broken budget process. Click HERE for highlights of our member and … Continue Reading

January 22, 2024

Arrington, Comer Probe OMB and Treasury Over Completeness of Spending Transparency Data

WASHINGTON D.C.— House Committee on Budget Chairman Jodey Arrington (R-TX) and House Committee on Oversight and Accountability Chairman James Comer (R-KY) sent a joint letter to the Office of Management and Budget (OMB) and U.S. Treasury Department’s Bureau of the Fiscal Service (BFS) after a Government Accountability Office report found agencies failed to provide accurate and timely spending data. In the letter to OMB Director Shalanda Young and BFS Commissioner Timothy Gribben, the … Continue Reading

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