Congress Approves First 10-Year Balanced Budget Since 2001
WASHINGTON, DC – Congress this week approved its first 10-year balanced budget since 2001. The joint agreement between the U.S. House and Senate balances the budget within 10 years without raising taxes, strengthens our national defense, protects our most vulnerable citizens, improves economic growth and opportunity for hardworking families and stops the federal government’s out of control spending.
“Today, we are putting our country on not just another course, but a better course,” said Senate Budget Committee Chairman Mike Enzi (R-WY). “Approving the first balanced 10-year budget since 2001 represents a ‘Lean In’ moment for a Congress under new management, to confront rapidly growing deficits borne from our government’s habitual overspending, which plagues America and its taxpayers. This balanced budget will provide Congress and the nation with a fiscal blueprint that challenges lawmakers to examine every dollar we spend. Americans who work hard to provide for their families and pay their taxes understand that it’s time for the federal government to live within its means, just like they do.”
Full summary of the balanced budget resolution approved by Congress.
Congressional Balanced Budget Resolution:
* Balances the Budget within 10 years without Raising Taxes
* Ensures a Strong National Defense
* Provides for Repeal of Obamacare to Start Over with Patient-Centered Reforms
* Strengthens Medicare
* Protects Social Security
* Supports a Healthier Economy and Stronger Economic Growth
* Improves Efficiency, Effectiveness & Accountability of Government
Congressional Balanced Budget by the Numbers:
* $5+ trillion in savings.
* $32 billion surplus in 2024, $24 billion surplus in 2025, and stays in balance in the out-years.
* $400 billion in additional economic growth over the next 10 years, according
* 1.2 million additional jobs over the next 10 years, based on CBO data.
* 2001 – Restores the trust of hardworking taxpayers by passing the first joint ten-year balanced budget resolution since 2001.
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