Smith Statement on Chairman Ryan’s Proposed Budget Resolution
by Lamar Smith on April 5, 2011 at 5:20 PM
Today, I issued the following statement regarding Budget Committee Chairman Paul Ryan’s (R-WI) fiscal year 2012 House budget resolution, “The Path to Prosperity: Restoring America’s Promise.”
The budget House Republicans introduced today focuses on the American people’s priorities – cutting spending and creating jobs. We know that our country is currently facing a debt crisis. We currently borrow almost 40 cents of every dollar we spend. The President’s recent budget proposal would make things worse. His budget plan doubles the debt held by the public at the end of his first term, and imposes $1.5 trillion in new taxes.
The Path to Prosperity proposal addresses all aspects of out-of-control government spending. This budget cuts $6.2 trillion in government spending over the next decade compared to the President’s budget. It keeps taxes low and reforms our tax code to help businesses invest and grow. It also repeals and defunds the Democrats’ health care law, and advances solutions focused on lowering costs.
We must take steps now to secure the economic future of our nation. This budget is a common-sense plan to reform government and cut spending so that we can provide our children and grandchildren with a brighter future.