Congressman Tom Rice

Representing the 7th District of South Carolina

Congressman Rice Joins Colleagues to Introduce Balanced Budget

Mar 17, 2015
Press Release

WASHINGTON, D.C. – Congressman Tom Rice (SC-07), a member of the House Budget Committee, released the following statement regarding the House Budget Committee’s Fiscal Year 2016 budget plan: A Balanced Budget for a Stronger America:

“Our country is more than $18 trillion in debt, and this number will only continue to grow if the government does not start operating on a balanced budget.  It is irresponsible for the President, members of Congress, and federal agencies to continue on this current fiscal path, passing mounds of debt to our children and grandchildren.  Fortunately, for the first-time in seven years, the President submitted his budget request on time.  While his budget does not balance and is far from ideal, the government is following our country’s budget process for the first time in years. 

“Today, my colleagues and I unveiled our budget plan—one that balances in 10 years and builds a stronger America for future generations.  Our budget cuts spending, calls for a fairer and simpler tax code, and puts our country on a path to pay off the debt.  The Balanced Budget for a Stronger America brings our country one step closer to completing our budget process, and one step closer to getting our country back on a path of fiscal responsibility.”

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Snapshot of A Balanced Budget for a Stronger America, compiled by the House Budget Committee:

Balances the Budget
•  Balances the budget in less than 10 years without raising taxes, in contrast to the President whose budget never balances
•  Cuts $5.5 trillion in spending – higher than any previous House Budget Committee proposal
•  Calls for a fairer, simpler tax code to promote job creation and a healthy economy
•  Places the country on a path to paying off the debt by growing the economy and making government more efficient, effective and accountable
•  Calls on Congress to pass a balanced budget amendment to the Constitution

Repeals Obamacare
•  Repeals Obamacare in full – including all of its taxes, regulations and mandates
•  Promotes freedom of choice, affordability, and patient-centered health care solutions
•  Eliminates IPAB, an unelected, unaccountable board of bureaucrats charged with making coverage decisions on health care

Ensures a Strong National Defense
•  Provides for a strong national defense through robust funding of troop training, equipment and compensation
•  Boosts defense spending above the president’s levels while putting in place a plan to responsibly address the current spending caps and the threat of sequester  

Secures Our Future
•  Ends the Obamacare raid on Medicare
•  Strengthens Medicare by making structural improvements to save the program
•  Eliminates the “double dipping” of Disability Insurance and Unemployment Insurance
•  Prevents the president’s plan to raid the regular Social Security Trust Fund

Restores Federalism
•  Rejects the notion that Washington knows best and devolves power back to the states
•  Promotes innovation and flexibility for Medicaid, nutrition assistance, education and other programs

Cuts Waste, Corporate Welfare and Improves Accountability
•  Cuts waste, eliminates redundancies and ends the practice of Washington picking winners and losers in our economy
•  Calls for reforms to the regulatory system to improve transparency, efficiency, effectiveness and accountability

CLICK HERE TO READ "A BALANCED BUDGET FOR A STRONGER AMERICA"