Federal Budget

f t # e

Budget Process
Federal law requires Congress to produce a budget each fiscal year to set spending limits.  Under normal process 1) the President submits a budget proposal to Congress, 2) both chambers produce their own budget resolution, and 3) Congress passes appropriations bills that set the spending levels.  Unfortunately, implementing the budget process is always much more complicated.  I would encourage you to review this report by the Congressional Research Service for a more detailed analysis.

Current Crisis
Currently, the United States national debt is over $19 trillion dollars. While the federal budget deficit has fallen in recent years, the CBO projects the gap between federal spending and revenues will continue to grow, further increasing federal debt relative to the size of the economy.  You may find up to the minute numbers here.

House Passed 2016 Budget
The federal government must solve its debt crisis by bringing spending in line with taxes – not taxes in line with spending.  On March 25, 2015, the House passed H.Con.Res.27 which offers solutions to our nation’s most complex fiscal problems.  The Senate also put forward its own budget resolution and on April 30, for the first time in over a decade, Congress passed a joint House and Senate balanced budget resolution.  The Congressional budget resolution will reduce federal spending by $5.3 trillion through responsible spending reform without raising taxes.  The budget resolution balances the federal budget in 10 years, provides for a strong national defense while still preserving programs like Medicare and Medicaid.   

I am convinced that there is a spending problem in Washington and it is long past time the federal government stepped up with solutions to our fiscal crisis. I stand ready to work with my colleagues to rein in this excess and get our nation’s fiscal house in order. 

01/06/2015- Co-sponsor: H.J.Res.2, Proposing a Balanced Budget Amendment to the Constitution of the United States

f t # e