Young, House Budget Committee release FY2013 federal budget03/20/12
Rep. Todd Young (R-IN9) joined other members of the House Budget Committee at a press conference on Tuesday where they unveiled their FY2013 Budget, a document that cuts $5 trillion relative to the President’s budget; reforms the U.S. tax code by lowering rates and closing loopholes; strengthens safety net programs like Medicare while empowering individuals to choose between traditional Medicare coverage and a market-based option; and prevents the $1.9 trillion tax increase in the President’s Budget Request.
“Americans deserve specific solutions to our debt and economic crises, and that’s exactly what we’ve given them,” said Young. “More than anything else, this budget puts our country on a path to balance. It gets the government out of the way of the private sector, reduces the risk of more credit rating downgrades, makes our corporate tax rate globally competitive to attract new investments, and preserves programs like Medicare and Medicaid for future generations.”
The House budget mirrors the FY2012 Budget assembled by the committee last year, but also includes some provisions pushed by Democrat members of Congress. Among those are a proposal from Sen. Ron Wyden (D-OR) that would develop a premium support model for Medicare, but would still allow individuals to opt for traditional Medicare coverage. Several of the tax code provisions, such as removing credits, deductions and other loopholes, have also been supported by Democrats in the past.
“Others in Washington—starting with the Senate—must follow our lead in putting written plans on paper if we ever hope to accomplish anything,” said Young. “The Senate has not passed their own budget in over three years. They have unanimously rejected the President’s budget. Here again the House Budget Committee has tried to find common ground in our proposal, but we can’t participate in these discussions by ourselves. Others may have ideas that we could embrace, but we’ll remain at an impasse as long as they stay on the sidelines. Our country needs everyone at the table.”
More information on the House Budget can be found at http://budget.house.gov/prosperity.