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March 15, 2016

March 15, 2016 | News Releases on

Heritage Statement on House Budget Resolution FY 2017

“This budget is not a serious effort to tackle our mounting debt caused by wasteful spending. Once again Congress promises future spending cuts in return for higher spending today. That’s no longer acceptable. The future cuts never come.

“The House Budget Committee now proposes to hike spending by $30 billion above the level established by the Budget Control Act and $57 billion above last year's budget. Congress has made us the largest debtor nation in the world. Working families cannot afford that debt, and the next generation of taxpayers can certainly not afford it. 

"Congress should act now. They should move forward boldly and enact long-promised spending reforms that will reduce the deficit and lead us to a balanced budget and economic growth."

 

Comparison of the House Budget and Heritage’s “Blueprint for Balance”:

  • The House Budget Committee's plan would spend $3.2 trillion more than Heritage's Blueprint for Balance. 
  • The House Budget Committee's plan would have $1.7 trillion in higher revenues relative to Heritage's Blueprint for Balance. 
  • The House Budget Committee's plan would reach balance in 2026 -- a full 3 years after Heritage's Blueprint for Balance. 
  • The House Budget Committee's plan claims to repeal $1.5 trillion in revenues associated with Obamacare but then doesn't say how they will be replaced. 

About the Author

Paul Winfree Director, Thomas A Roe Institute for Economic Policy Studies and Richard F. Aster Fellow
Thomas A. Roe Institute for Economic Policy Studies