Real Reforms to Strengthen Our Economy

This week, the House of Representatives passed a budget for the upcoming fiscal year. With our national debt now exceeding $18 trillion, we must put a plan in place to cut waste and balance the books.

While the federal government continues to spend beyond its means, Americans are shouldering the financial consequences. We have successfully shifted the conversation in Washington from how much to spend to how much to cut. The House budget follows this principle, cutting $5.5 trillion in spending and balancing in less than 10 years without raising taxes.

Our budget also calls on Congress to simplify the tax code. Compliance alone takes taxpayers more than six billion hours and costs $168 billion. In my role on the House Ways and Means Committee, I look forward to building on the groundwork set by this budget to overhaul the current tax system and make the code fairer and more competitive for all Americans.

In contrast, President Obama’s proposed budget continues the same tax-and-spend policies which have already raised taxes by $1.7 trillion and increased the national debt by $7.5 trillion. The President’s budget, which never balances, calls for $2.1 trillion in new taxes and $8.5 trillion in new debt. It also heaps more regulations onto the already burdensome tax code.

If hardworking individuals and families are expected to balance their budgets, the federal government must be held to the same standard. The House budget creates a foundation for building a healthy economy and ends the cycle of reckless spending which would leave future generations responsible for trillions of dollars in debt.

After passing a balanced budget, the House can now begin the appropriations process to fund the government in a fiscally responsible manner. We must also pursue substantive reforms to health care. Our budget calls for a full repeal of Obamacare’s taxes and mandates, and provides structural reforms to programs such as Medicare and Social Security.

The House also voted this week to strengthen Medicare by repealing the Sustainable Growth Rate, or SGR. It is commonly referred to as the “doc fix.” The SGR threatens access to care for seniors and distracts Congress from making needed reforms. In fact, Congress has had to intervene 17 times in 11 years with short-term fixes to this flawed system.

Instead of continuing the cycle of self-imposed crises, the legislation passed by the House replaces the SGR with a patient-centered system to provide more stability in care. Though this bill is not perfect, it is the first real entitlement reform in nearly 20 years. It also opens the door for further long-term fixes to strengthen Medicare, benefiting seniors and taxpayers.

By voting for a balanced budget and beginning the Medicare reform process, the House of Representatives refused to kick the can down the road and passed two important solutions this week. This is welcome news to many Nebraskans who tell me they want Congress to work. As we move on to address issues such as trade, infrastructure and health care, I am optimistic the House will continue to pass legislation to restore opportunity for all Americans.