House Budget Committee introduces Fiscal Year 2018 budget resolution

On Tuesday, the House Budget Committee released its Fiscal Year 2018 budget resolution: “Building a Better America – A Plan for Fiscal Responsibility.” It is a plan to balance the budget, promote job creation, strengthen our national security, improve health care for all Americans, return power back to the states, and bring accountability to the federal government.

House Budget Committee Chairman Diane Black of Tennessee issued the following statement:

“Today, we are introducing not just a vision for our country, but a plan for action. In past years, our proposals had little chance of becoming a reality because we faced a Democratic White House. But now with a Republican Congress and a Republican administration, now is the time to put forward a governing document with real solutions to address our biggest challenges.

“The House Republican Budget, ‘Building a Better America,’ does just that. It will lay out a path to balance, promote job creation, give our military the resources they need to protect our nation, and hold Washington accountable. This budget also sets out reconciliation instructions to fix our broken tax code and make long-overdue reforms to mandatory spending.

“The status quo is unsustainable. A mounting national debt and lackluster economic growth will limit opportunity for people all across the country. But we don’t have to accept this reality. We can move forward with an optimistic vision for the future and this budget is the first step in that process. This is the moment to get real results for the American people. The time for talking is over, now is the time for action.”

Here is a brief summary of the proposed budget resolution:

Balancing the Budget

“Building a Better America” balances the budget within 10 years by cutting spending, reforming government, and growing the economy. The budget produces a $9 billion surplus in fiscal year 2027.

The budget achieves $6.5 trillion in total deficit reduction over 10 years.

This budget sets overall discretionary spending for fiscal year 2018 at $1.132 trillion.

• $621.5 billion in defense discretionary spending.

• $511 billion in non-defense discretionary spending.

Promoting Job Creation

Provides reconciliation instructions for fundamental tax reform that will lower rates, simplify the code, and incentive employers to hire and grow.

Calls for major reform of regulations that hold back job creation and innovation.

Securing the National Defense

The budget reflects Congress’s commitment to our men and women in uniform and provides them with the resources to complete the mission at hand.

Provides significant funding to secure the border and protect the homeland.

Calls for increased accountability at the Department of Veterans Affairs to ensure our veterans receive the care they deserve.

Strengthening Health Care

This budget addresses Obamacare by incorporating the House-passed American Health Care Act and all of its savings.

Saves and strengthens Medicare by moving to a premium support system that gives seniors more control of their health care. This lowers costs for beneficiaries and the government through increased competition while also maintaining the option for traditional Medicare.

Reforms Medicaid to ensure the program works best for the most vulnerable and gives states more power to tailor their Medicaid programs to meet the unique needs of their populations.

Cutting Spending and Reforming Government

This budget gives reconciliation instructions to 11 House committees to achieve at least $203 billion in mandatory savings and reforms.

This budget also aims to reduce government-wide improper payments by $700 billion.

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