Press Releases
House Budget Committee Chairman Arrington Delivers Opening Statements in Hearing Titled, “The Congressional Budget Office’s Budget and Economic Outlook”
Click HERE to watch Chairman Arrington’s Opening Statements Opening Statement as Delivered: The bottom line is, on Valentine's Day, when we think about how much we love our significant others, one could ask how much we love the country. How much do we love our childrens’ future in the country? Well, as Shakespeare said, let me count the ways. Maybe the ways we're not loving our country — $20 trillion in additional debt over the next 10 years from $34 trillion record high to $54 … Continue Reading
February 15, 2024
A Tale of Two Deficit Reductions
The recent Congressional Budget Office's (CBO) Budget Outlook underscores that Republicans and Democrats have very different meanings for “deficit reduction.” According to CBO's assessment, the Democrats' Inflation Reduction Act (IRA), initially anticipated to yield a deficit reduction of $58 billion, is now projected to cost an additional $364 billion. This stems from factors including underestimated claims for green tax credits and out-of-control administrative actions by the Biden … Continue Reading
February 14, 2024
House Budget Chairman Arrington Joins Mornings with Maria To Discuss Cost of Border Security, CBO Baseline
WASHINGTON, D.C. - House Budget Committee Chairman Jodey Arrington (R-TX) joined “Mornings with Maria” on Fox Business to discuss border security and fiscal challenges facing our nation. Click HERE to watch Chairman Arrington on Mornings with Maria. Chairman Arrington on Border Security: “The Mayorkas impeachment was [held] for reasons that have been obvious to the American people for three years. He had no intention of enforcing the laws of the land. He didn’t fulfill his sacred … Continue Reading
February 13, 2024
House Budget Committee to Hold Hearing Titled “The Congressional Budget Office’s Budget and Economic Outlook”
WASHINGTON, D.C. - On Wednesday, February 14, Chairman Jodey Arrington (R-TX) and members of the House Committee on the Budget will hold a hearing titled "The Congressional Budget Office's Budget and Economic Outlook." DATE: Wednesday, February 14th TIME: 10:00 AMLOCATION: 210 Cannon House Office Building The Congressional Budget Office (CBO) Director Phillip Swagel will appear before the Committee to answer questions on the recent CBO baseline, while also exploring ways to improve … Continue Reading
February 13, 2024
Chairman Arrington Reacts to January Inflation Report
WASHINGTON, D.C. - Today, Chairman Jodey Arrington (R-TX) released the following statement after the Consumer Price Index (CPI) report for January showed a continued persistence in inflation despite declining on a yearly basis: “The Republican-led debt ceiling deal forced Democrats to agree to two important reforms for reducing record inflation: spending cuts and work requirements for welfare recipients. When Republicans fight to restore fiscal responsibility, our economic outlook … Continue Reading
February 08, 2024
WHAT THEY’RE SAYING: Budget Members Sound the Alarm on CBO Budget Baseline
Yesterday, the nonpartisan Congressional Budget Office (CBO) released their February 2024 Budget Baseline for FY2024-2034, analyzing America’s fiscal trajectory. According to CBO, the gross federal debt is on track to grow by $20 trillion in just ten years, reaching a staggering $54.4 trillion. The government is also expected to spend $82.7 trillion over ten years, including $51 trillion in mandatory spending alone. Click HERE to see more topline numbers from CBO’s baseline and below … Continue Reading
February 07, 2024
CBO 2024 Baseline: The Baseline and Interest Costs
February 07, 2024
CBO 2024 Baseline: The Baseline and Trust Funds
February 07, 2024
CBO 2024 Baseline: The Baseline and Revenues
February 07, 2024
CBO 2024 Baseline: The Baseline and Spending
February 07, 2024
CBO 2024 Baseline: Deficits and Debt
February 07, 2024
CBO 2024 Baseline: Corrections to Previous Baselines
February 07, 2024
CBO 2024 Baseline: The Baseline and the Border Crisis
February 07, 2024
CBO 2024 Baseline: Comparing May 2023 and February 2024
February 07, 2024
CBO 2024 Baseline: Topline Summary
February 07, 2024
Chairman Arrington Releases Statement on Congressional Budget Office Budget Baseline
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
