Chairman Enzi: America Must Work to Tackle Its Mounting Debt and Deficits

WASHINGTON, D.C. - During a nomination hearing for Derek Kan to be the Deputy Director of the White House Office of Management and Budget (OMB), Senate Budget Committee Chairman Mike Enzi (R-WY) today said that the nation must begin working to address its growing debt and deficits. "Our nation continues to confront an unprecedented crisis, both health and economic, from the COVID virus," Chairman Enzi said. "Responding to this crisis makes the OMB's work more important than ever, especially as… Continue Reading


Chairman Enzi Fights to Make Parks Legislation Fiscally Responsible

WASHINGTON, D.C. - Senate Budget Committee Chairman Mike Enzi (R-WY) today raised a budget point of order under the Senate's pay-as-you-go (PAYGO) rule against the Great American Outdoors Act, which would increase the deficit by more than $17 billion over the next 10 years. "This bill is just the latest in an unprecedented spending spree Congress has been on for the past year," said Chairman Enzi. "During this fiscal year we have already run up a deficit of $1.9 trillion, more than twice the … Continue Reading


Raise Entry Fees for Funds to Reduce the Maintenance Backlog at Our National Parks

by Nicolas Loris

The Great American Outdoors Act is well-intentioned, with its goal of addressing the nearly $20 billion deferred maintenance backlog of our nation's public lands. But the bill, which the Senate will vote on soon, would also add to the federal debt and empower the executive branch to acquire more federal land with limited accountability. Recognizing some of the bill's flaws, Sen. Mike Enzi, R-Wyo., offered an amendment that would, in his words, "fix future problems without having to put the cos… Continue Reading


Budget Committee Approves Vought as Director of White House Budget Office

WASHINGTON, D.C. - The Senate Budget Committee today voted to approve Russell T. Vought to be director of the White House Office of Management and Budget (OMB). Vought currently serves as Acting Director of OMB and was previously approved by the Senate Homeland Security and Governmental Affairs Committee earlier this week. His nomination now moves on to the full Senate for consideration. "The Office of Management and Budget is playing a key role in responding to the pandemic crisis and that… Continue Reading


Chairman Enzi: It’s time to fix our national parks, but we must do so responsibly

Washington, D.C. - Our national parks are an important source of pride for our country, but unfortunately they are in desperate need of repair and maintenance that will cost nearly $12 billion, according to U.S. Senator Mike Enzi, R-Wyo. Speaking on the Senate floor today, Enzi advocated for an amendment to the Great American Outdoors Act, which aims to address the maintenance backlog in our national parks. However, Enzi said the Great American Outdoors Act "represents a one-time fix that is ne… Continue Reading


Chairman Enzi: Congress May Not Have the Tools for the Next Fiscal Crisis

WASHINGTON, D.C. - During a nomination hearing for the Director of the White House Office of Management and Budget (OMB), Senate Budget Committee Chairman Mike Enzi (R-WY) today said that he is increasingly concerned that the nation will not have the fiscal tools to address the next fiscal crisis. "While addressing the current pandemic was necessary, I remain concerned about the nation's fiscal health, because while we had the financial tools to address this crisis this time, we should not assu… Continue Reading


White House selects Enzi for task force to reopen economy

U.S. Senators Mike Enzi and John Barrasso and Congresswoman Liz Cheney, all R-Wyo., released the following statements after agreeing to serve on President Trump's task force dedicated to reopening the economy. "I look forward to working with my colleagues and the Administration on this task force to address when and how we can begin to restart our economy," Enzi said. "This virus has closed businesses, which in turn lay off employees. It has closed schools. It has changed every aspect of our dai… Continue Reading


Chairman Enzi: Congress Must Take Steps Toward a Sustainable Fiscal Future

WASHINGTON, D.C. - During a hearing focused on the nation's fiscal health, Senate Budget Committee Chairman Mike Enzi (R-WY) today said that Congress must take concrete steps toward a sustainable fiscal future before it is too late. The Committee heard from Gene Dodaro, the Comptroller General of the United States and head of the U.S. Government Accountability Office (GAO), on the agency's annual update on the fiscal health of the nation. "As the deficit grows and we borrow even more money to … Continue Reading


Chairman Enzi: Bipartisan Budget Reforms Can Improve Fiscal Transparency and Accountability

WASHINGTON, D.C. - During a summit focused on ways to fix the nation's broken budget process, Senate Budget Committee Chairman Mike Enzi (R-WY) today highlighted bipartisan legislation to reform the budget process and encourage bipartisan collaboration in order to tackle our growing debt and deficits. The bill, S.2765, the Bipartisan Congressional Budget Reform Act, would provide a more orderly, deliberative budget process focused on long-term fiscal planning, while also improving fiscal transp… Continue Reading


‘Zombie’ Federal Programs That Congress Hasn’t Authorized in Years Cost Taxpayers $332 Billion


WASHINGTON-Hundreds of billions of federal tax dollars will be spent this year on programs with expired legislative authorizations - including thousands from a law passed in 1985 - according to the Congressional Budget Office (CBO), but Congress appears to be in no hurry to fix the problem. The CBO report - which was made public recently by Senate Budget Committee Chairman Mike Enzi (R-Wyo.) - found tax dollars will be spent in 2020 on at least 1,046 expired authorizations on programs under 2… Continue Reading


Bipartisan Coalition Unites Behind First Federal Financial Management Reform Since 1990


WASHINGTON-Almost as extinct in the nation's capital as the dinosaurs in the National Museum of Natural History are bipartisan coalitions of legislators and advocacy groups pushing for much-needed landmark reforms in how federal officials spend tax dollars. But such a coalition has formed behind the Chief Financial Officers (CFO) Vision Act of 2020, co-sponsored by Senate Budget Committee Chairman Mike Enzi (R-Wyo.), Senate Pro Tempore Chuck Grassley (R-Iowa), who is also chairman of the Sena… Continue Reading


Graduate school debt is driving up the cost of helping borrowers manage their student loans

by Danielle Douglas-Gabriel

Americans are amassing hefty debt in graduate programs and turning to repayment plans that offer loan forgiveness. But the trend is costing taxpayers and could make the popular programs politically untenable. A Congressional Budget Office report released Wednesday projects that loans made to graduate students over the next decade will account for 81 percent of the $207.4 billion the federal government will forgive through what are known as income-driven repayment plans. The plans cap monthly pa… Continue Reading


Bipartisan Bill Would Strengthen Federal Financial Management

WASHINGTON, D.C. - Senate Budget Committee Chairman Mike Enzi (R-WY) this week introduced bipartisan legislation to strengthen federal financial management by updating the Chief Financial Officers (CFO) Act of 1990. The CFO Act created a new foundation for federal financial management and established a fiscal management reporting and leadership structure. The legislation, S. 3287, is cosponsored by Senators Mark Warner (D-VA), Chuck Grassley (R-IA), Ron Johnson (R-WI), David Perdue (R-GA), and … Continue Reading


Growing Federal Subsidies for Graduate Loan Debt

by Paul Fain

The share of federal student loan debt with relatively generous repayment options -- in income-driven repayment plans -- is growing rapidly, according to a new report from the Congressional Budget Office. And the CBO, a nonpartisan agency, found that borrowers with graduate and professional degrees are benefiting most from the increasingly expensive federal program. About 45 percent of the volume of federal loans was being repaid through income-driven plans in 2017, the report sa… Continue Reading


CBO Shows Explosive Growth in Cost of Income Driven Repayment for Student Loans

WASHINGTON, D.C. - The Congressional Budget Office (CBO) today released a new report that shows the cost projections for income driven repayment (IDR) plans surging, which will ultimately cost the federal government more than $200 billion over the next decade. The report also found that more than half of the loans are expected to be forgiven, instead of fully repaid. The report was requested by Senate Budget Committee Chairman Mike Enzi (R-WY) and Senate Health, Education, Labor, and Pensions Co… Continue Reading


Student Debt Forgiveness in U.S. to Total $207 Billion in Next Decade, CBO Says

by Josh Mitchell

WASHINGTON-The U.S. government will forgive $207.4 billion in student debt for Americans who take out loans over the next decade, the Congressional Budget Office said Wednesday. The biggest benefits will go to borrowers who attend graduate or professional school. The CBO projects the government will originate $1.05 trillion in new loans from 2020 to 2029. Much of that will end up in income-driven repayment plans, which set monthly payments as a share of a borrower's income and then forgive bala… Continue Reading


Chairman Enzi's Statement On President’s FY 2021 Budget Proposal

WASHINGTON, D.C. - Senator Mike Enzi (R-WY), Chairman of the Senate Budget Committee, issued the following statement today on the President's fiscal year 2021 budget proposal: "Presidents' budgets are a reflection of Administration priorities, but in the end, they are just a list of suggestions, as the power of the purse rests with Congress," said Chairman Enzi. "Bipartisan consensus will be necessary to bring our debt and deficits under control. I hope to work with my colleagues on both side… Continue Reading


Enzi: Expired Programs Cost Govt. Hundreds of Billions of Dollars

WASHINGTON, D.C. - Senate Budget Committee Chairman Mike Enzi (R-WY) said federal programs with expired authorizations are costing the government hundreds of billions of dollars every year, after a new report was issued by the Congressional Budget Office (CBO). CBO analyzed all the programs and activities funded by Congress through the annual appropriations process and found that hundreds have authorizations that expired or will expire this fiscal year. CBO found that the federal government is … Continue Reading


New CBO Budget Outlook Shows Dramatically Higher Long-Term Debt and Deficits

WASHINGTON, D.C. - Senate Budget Committee Chairman Mike Enzi (R-WY) today said the Congressional Budget Office's (CBO) Budget and Economic Outlook for fiscal years 2020 through 2030 shows the country on an unsustainable fiscal path, with debt and deficits rising sharply. CBO's extended projections show that the Bipartisan Budget Act of 2019 and legislation enacted last year that repealed the Cadillac tax will add massive amounts of debt over the long-term, which will dampen economic output and … Continue Reading


The Trouble Ahead for Federal Trust Funds

by Michael Rainey

The aggregate balance of the hundreds of federal trust funds and other dedicated funds will start declining in two years, according to a new report from the Government Accountability Office. Republican Senators Mike Enzi (WY) and Mike Braun (IN) asked the GAO to review the status of the funds that support Social Security, Medicare, flood insurance, and many other programs, and the results were published this week. It's a large and complex topic, as this passage from the G… Continue Reading

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