Schmidt, House Republicans Move to Restore America’s Fiscal Sanity
WASHINGTON, DC: Congressman Derek Schmidt (KS-02) released the following statement after the House tonight passed H. Con. Res. 14, which establishes a budget framework to enable Congress to begin deciding spending and tax policies.
“Kansans sent President Trump and a Republican Congress to Washington to get America back on the right track after decades of unaffordable spending and four years of failed Biden policies,” Congressman Schmidt said. “The budget passed tonight is an important first step toward funding border security, restoring our national defense, preventing a massive tax increase on middle class Kansans, freeing entrepreneurs to grow our economy, beginning to stop the runaway spending that has fueled inflation and threatens our nation’s future, and instituting President Trump’s America First agenda that Kansans favor by a large margin. There is much more work to do, especially on reducing the budget deficit, but I’m encouraged we have begun.”
BACKGROUND
The United States’ gross national debt now surpasses $36 trillion and is equal to 123% of gross domestic product, the highest since World War II. Under current projections from the nonpartisan Congressional Budget Office, this debt will rise to $59 trillion – 135% of GDP – by 2035 unless Congress changes course.
The FY 2025 Concurrent Resolution on the Budget (H. Con. Res. 14) begins to reduce the U.S. deficit while increasing spending for national and border security and providing for the extension of most provisions of the 2017 Tax Cuts and Jobs Act that otherwise would expire at the end of this year. It also supports the stepped-up fight against waste, fraud, and abuse in the federal government and slows the continued growth of the federal bureaucracy.
The resolution is only a broad framework for the budget, but by law it must be in place to enable Congress to proceed to specific decisions about tax and spending policies.
Because the Senate has passed its own version of a budget resolution, discussions between the two chambers must occur to align their approaches to budgeting.
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