“We're introducing a budget that balances in 10 years—without raising taxes,” wrote Chairman Paul Ryan (R-WI) in the Wall Street Journal. “How do we do it? We stop spending money the government doesn't have.” You can read the full bill to be considered here and the explanation here (or below).
As the chart above shows, the Republican Path to Prosperity starts us on the road to a balanced budget immediately. It gets us there by doing four things: cutting wasteful government spending, fixing our tax code to help create new jobs and increase wages, repairing the safety net for Americans in need, and protecting and strengthening important priorities like Medicare. The budget also repeals the president’s health care law, which is driving up costs and making it harder for small businesses to hire.
After failing to pass a budget for four years, all Senate Democrats have come up with is another giant tax hike that won’t do “anything to erase the nation’s deficits.” And the White House has already admitted that the president’s long-delayed budget won’t be balanced either, but will just keep piling more and more debt onto the backs of our kids and grandkids.
Chairman Ryan notes that balancing the budget is just a means to an end. As he wrote in the WSJ, the goal of a balanced budget is to help grow our economy and expand opportunity for all Americans:
“A budget is a means to an end, and the end isn't a neat and tidy spreadsheet. It's the well-being of all Americans. By giving families stability and protecting them from tax hikes, our budget will promote a healthier economy and help create jobs. Most important, our budget will reignite the American Dream, the idea that anyone can make it in this country.”
Read all about the Path to Prosperity budget below and visit budget.house.gov for more details: