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For more information, please contact AAF Policy Director John Shelton at jshelton@advancingamericanfreedom.com
Calling Balls and Strikes on the Senate Budget Resolution
TOPLINE: House Conservatives are deeply concerned about the absence of substantial spending cuts in the Senate budget resolution, which is a vehicle for the reconciliation process. We’re here to call balls and strikes on the Senate's budget resolution.
The Good: • Extends the Trump-Pence Tax Cuts.
• CONTEXT: Extending the tax cuts protects millions of American families and small business owners from a 22% tax hike, preserves 6 million jobs, and encourages businesses to invest more capital in America. • Provides for an additional $1.5 trillion in unspecified new tax cuts. • Provides $175 billion for deportation efforts, $150 billion for defense, and $196 billion for other priorities. The Bad: • Increases the national debt limit by $5 trillion with miniscule spending reforms.
o CONTEXT: The national debt is currently $36.7 trillion. o Congress historically has leveraged the debt limit to enact valuable spending reforms. o CONFLICT: The House version allowed for a $4 trillion increase. • Unspecified new tax cuts will not grow the economy.
o Increasing the SALT subsidy for high-tax states and exempting certain jobs from taxes will not grow the economy. The Ugly: • The Rule restricts Congress’ constitutional obligation to address tariff policy. • The Senate package sets a low $4 billion minimum for spending cuts over 10 years.
o CONTEXT: If the Senate does the bare minimum, this would result in a cut of less than 6 cents out of every $1,000 of federal spending over the next 10 years. o Under the Senate plan, spending would jump from $4.66 trillion in 2025 to $6.74 trillion in 2034. o CONFLICT: The House passed a package for $2 trillion or more in spending cuts. BOTTOMLINE: Congress needs courage to cut spending. Cutting taxes without cutting spending shifts the burden to future generations. The Senate budget resolution tees up tax cut reauthorization, ensuring Americans keep more of their own money, but fails to incorporate transformational spending cuts to put America on the path to fiscal solvency.