Committee on the Budget

Tom Price

Price Responds to King v. Burwell Ruling

2015/06/25

WASHINGTON, D.C. – House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement after the Supreme Court ruled in the case of King v. Burwell:

“The Supreme Court’s ruling has simply endorsed the status quo. It has not and it should not dissuade policymakers from continuing to pursue a repeal of Obamacare and, just as important, to pursue positive, patient-centered solutions. The status quo is harming patients, families, and America’s small businesses. It is wreaking havoc on the health insurance market, diminishing the innovation and vitality of our health care system and remains a barrier to job creation and a healthier economy.

“A better way to address the challenges in our health care system is to put patients and their doctors in charge of health care decisions. H.R. 2300, the Empowering Patients First Act, is legislation that does just that. It makes coverage more affordable, expands access to health care choices so folks can find and purchase the coverage they want for themselves, not what Washington says they must buy. It ensures we have a health care system that is responsive and innovative and one that does not waste billions of dollars every year on the practice of defensive medicine.

“While disappointed in the Court’s decision, I believe that we must continue our efforts to rid the country of Obamacare and start over with positive solutions that empower the American people, not Washington, D.C.”

Click here, to learn more about H.R. 2300, the Empowering Patients First Act.

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Price Statement on CBO Report on Obamacare Repeal

2015/06/19

WASHINGTON, D.C. – Today, the Congressional Budget Office (CBO) released a report on the fiscal and economic impact of repealing Obamacare. Among CBO’s findings, repeal of the president's health care law would increase economic growth and labor force participation. House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement in response to CBO's analysis:

“Obamacare is a direct threat to the quality, affordability and accessibility of health care in America, as well as a clear impediment to the economic vitality of our nation. According to CBO's analysis, repealing the president’s health care law would create a healthier economy. At a time when participation in the labor force is at an alarmingly low rate, getting rid of Obamacare’s harmful regulations, mandates and taxes would give job creators and job seekers greater opportunity. We can solve America’s health care challenges without harming our economy if we start over with positive, patient-centered solutions that put patients, families and doctors in charge, not Washington, D.C.”
 
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Chairman Price Opening Statement: Why Congress Must Balance the Budget

2015/06/17

As Prepared for Delivery

Good morning, everyone. Thank you all for being here.

Yesterday, the Congressional Budget Office released its Long-Term Budget Outlook. The news was not particularly surprising, but it was incredibly troubling. The national debt is on pace to rise to 175 percent of our GDP by 2040. As the nation’s fiscal imbalance grows, our economy and hard-working American families are suffering and will continue to suffer. CBO projects economic growth to average a subpar 2.3 percent. At the same time, Medicare and Social Security, vital health and retirement programs, face insolvency. That’s not just a bookkeeping challenge. It means Medicare and Social Security won’t be there to serve American seniors who have contributed to these programs their entire working lives unless we take action.

There is plenty more to say about the CBO’s long-term budget outlook, but we are not here today to discuss just one economic report. We are here to talk about why it is imperative that we stop ignoring these fiscal and economic warnings and, ultimately, what we ought to do to ensure the American people can have an economy with more opportunity and jobs, a safer and stronger nation, and a more secure retirement.

The title of this hearing is “Why Congress Must Balance the Budget.” I imagine there might be a few Americans watching these proceedings who are scratching their heads and saying “because that’s what responsible people do. Period.” American families and businesses balance their budgets all the time. They do so because they know that it’s irresponsible and unsustainable to spend more money than you have. In other words, it’s common sense. When it comes to taxpayer dollars, it’s about respecting the American worker.

But there are also other reasons we need to balance the budget – reasons other than making the numbers add up. First and foremost, a balanced budget brings significant economic benefits.

When House Republicans introduced a balanced budget proposal earlier this year, CBO projected that our plan would increase real economic output per person by about $1,000, in 2025, and by about $5,000, in 2040. That’s real money in the pockets of working Americans. Moreover, as I’ve said before, every dollar that Washington takes in taxes and every dollar that is borrowed to sustain the deficit spending or cover interest on the debt, is a dollar that won’t be spent on a kid’s education, that can’t be used to pay rent, or buy a house or a car. 

A balanced budget would better prepare our nation to face those unforeseen challenges that inevitably will come with time. No one knows for certain what the future might hold or when we might be faced with a terrorist attack, a natural disaster or another recession. But we do know that our debt and the economic consequences of that debt will make it harder for our nation to prepare and respond.

There are numerous other reasons why a balanced budget is good for this country and it’s why I’m looking forward to hearing the testimony from our witnesses today. We have Ryan Silvey, a state Senator from Missouri, Chris Edwards from the Cato Institute, John Taylor from Stanford University, and Jared Bernstein from the Center for Budget and Policy Priorities. I want to thank all of you for taking the time to be here today and to share your experiences, expertise and informed views on this important issue.
 
It is incredibly important that we continue to broaden our understanding and the understanding of this Congress and the American people about the tremendous challenges we face and the need to develop positive solutions. Earlier this year, the House and Senate agreed on a balanced budget plan to strengthen America and build a brighter future. But our work is not done. And I’m happy to note that just as we are holding this hearing in the House today, Chairman Enzi and the Senate Budget Committee are holding a hearing on CBO’s Long-Term Budget Outlook. 

I’m looking forward to a lively discussion here today as we focus on why Congress must balance the budget.

And with that, I yield to the Ranking Member, Mr. van Hollen.  Read More

Price Statement on CBO’s Long-Term Budget Outlook

2015/06/16

WASHINGTON, D.C. - Today, the Congressional Budget Office (CBO) released its Long-Term Budget Outlook that shows deficits and the national debt will continue to rise to 175 percent of GDP by 2040, both Medicare and Social Security are heading towards insolvency, and real economic growth will remain at subpar levels of 2.3 percent on average. House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement in response to the CBO’s report:

“The conclusions of this report are not surprising but they are incredibly troubling. Our national debt is spiraling out of control. Medicare and Social Security are headed toward insolvency – creating uncertainty among today’s seniors and particularly tomorrow’s retirees about their health and retirement security. Interest payments on the nation’s debt alone are consuming a greater share of our annual budget – leaving fewer dollars for national security and other priorities. 

“Without a positive change in course, spending on mandatory programs and interest will eventually consume every dollar we have while the programs themselves will be unable to deliver on the promises made. That will mean more borrowing and more debt that will further burden our already weak economy. If we want to have the financial wherewithal as a nation to set priorities and fund them appropriately – to have a healthy economy, a competitive edge and a safe and secure nation – then we must do more to address our fiscal challenges, and we must act now.”
 
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Price Applauds Passage of Defense Appropriations Bill

2015/06/11

WASHINGTON, D.C. – House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement after the House of Representatives passed the FY 2016 Department of Defense Appropriations Act:

“This spring, the House and Senate worked together to pass a responsible plan to balance the nation’s budget and improve our national security. Using that guidance, the Appropriations Committee produced a defense funding bill that will help ensure military readiness, provides critical resources to fight ISIS and other terrorist organizations, and gives our troops a pay raise. This is a good bill and one that will bring more accountability to the Pentagon.

“Sadly, our Democrat colleagues are threatening to block these resources from getting to the men and women who are protecting and defending America because they want to use our national security as a bargaining chip to increase spending for their and the president’s domestic agenda. They are unabashedly opposed to increasing support for our troops unless they can also ramp up spending at agencies like the IRS and the EPA. There ought to be strong, bipartisan agreement that our national security is a top priority. It’s time President Obama and his allies in Congress started working with Republicans to give our military members the resources they need to complete their missions.”
 
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Chairman Price Opening Statement: CBO Oversight Hearing

2015/06/03

As Prepared for Delivery

Good morning, everyone, and thank you for being here today.

Last month Congress passed the first balanced budget conference agreement of its kind in over a decade. Working together, the House and Senate put forth a plan that would get the nation’s fiscal house in order, grow our economy, strengthen our national security, and make government more efficient, effective and accountable. Last week, we were reminded why this effort is so important.

On Friday, the Commerce Department announced that the economy shrank in the first quarter of this year by 0.7%. There have been three such quarterly economic contractions since this so-called recovery began. After more than six years of President Obama’s higher taxes and out-of-control regulatory schemes, we have an economy that remains weak and plagued with uncertainty. And all we hear from the Obama Administration are plans to spend more money we don’t have, tax more money out of the pockets of hardworking families and build more regulatory barriers to growth and jobs. This new normal is unacceptable, and it is why we have focused on putting forward a balanced budget and pro-growth policies that will help create more opportunity for more American families and businesses.

Today, we begin taking the next steps forward by examining how Congress can have a better and broader understanding of how the polices we put forward will affect our budget, our economy, important programs like Medicare and Medicaid, our national security and other critical areas of interest and concern. Today’s hearing will allow this committee to hear firsthand from the very agency that assists Congress in that effort – the Congressional Budget Office.

I want to welcome CBO Director Keith Hall. Director Hall, this is your first time testifying here at the House Budget Committee since becoming director. You bring a tremendous amount of experience and expertise to the job, and I want to thank you again for agreeing to serve as director. We look forward to your testimony and the insights you can share about how CBO works with Congress, how it arrives at its conclusions, how we might improve transparency, the functions and analytical tools available to the agency, and then, more broadly, what that all means for the larger fiscal and economic challenges facing our nation.

As we are all well aware, the reports that CBO has provided to Congress over the past several years have shown a steady and troubling decline in economic growth projections. CBO has also consistently raised the alarm about the unsustainable fiscal imbalance in Washington and the economic opportunity that is lost due to an out-of-control growth in debt. 

Something must be done, and I appreciate the critical role that CBO has played and will continue to play in our efforts to ensure that the money taxpayers send to Washington is used responsibly and that there is transparency and oversight of all government programs. The information CBO provides our committee and our colleagues in Congress is vital to that goal and to the legislative process. Having sound analysis in a timely manner that is responsive to the needs of members of Congress will help us advance real solutions.

At the same time, it is obvious that Congress needs a more complete and realistic understanding of the fiscal and economic impact of legislation we are considering. The work we do on behalf of our communities would be well served by knowing how certain policies might affect the broader economy, job creation, investment decisions and more. While it is impossible to perfectly predict the outcome of everything, we can do a better job of getting more accurate projections. This doesn’t mean throwing out tried-and-tested practices; it means adding more tools to the toolbox. You can rarely go wrong with more information, and I encourage CBO to remain committed to developing and refining its modeling and analysis – whether on the macroeconomic side of the ledger or on specific areas of interest like health care.

CBO has done tremendous work over the past 40 years thanks to its incredibly talented and dedicated staff. Thank you again Dr. Hall for testifying today and for your leadership of this important agency.

I look forward to the work ahead to improve our efforts here in Congress so that hard-earned taxpayer dollars are spent more wisely, in a more efficient, effective and accountable manner, and so that the policies we pursue have a positive impact on our economy and on the lives and livelihoods of the American people.

I now yield to the Ranking Member, Mr. Van Hollen Read More

House Budget Committee to Hold Congressional Budget Office Oversight Hearing

2015/05/27

WASHINGTON, D.C. – The House Budget Committee will hold an oversight hearing of the Congressional Budget Office (CBO) next week and will hear testimony from CBO Director Keith Hall. Ahead of the hearing, House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement:

“The recently adopted House-Senate balanced budget agreement was an important step in showing that there is a more fiscally responsible way to govern and paving the way for future efforts to rein in out-of-control spending and expand economic opportunity. However, a lot remains to be done to hold Washington accountable and ensure that the tax dollars of hard-working Americans are used effectively and efficiently. Holding this oversight hearing with the Congressional Budget Office will help the committee members, our colleagues and the American people better understand the important work of the CBO and encourage both the agency and the Congress it serves to improve the accuracy, transparency and quality of the policies we pursue.

“We have a responsibility to respect every dollar that taxpayers send to Washington, and we can only do that with the best information and analysis at our disposal. In the weeks and months to come, the committee will conduct further work examining reforms to the outdated congressional budget process, insights that can be gleaned from various Inspector General reports, efforts at broader entitlement reforms to save and strengthen those programs and other measures to root out waste, fraud and abuse while remaining focused on enforcing the budget we just passed.”

House Budget Committee Congressional Budget Office Oversight Hearing

Date: Wednesday, June 3, 2015

Time: 10:00 a.m.

Location: 210 Cannon House Office Building

Witness: Keith Hall, Director, Congressional Budget Office
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Price Commends Senate on Passage of Balanced Budget Agreement

2015/05/05

ROSWELL, GA – House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement commending Senate Budget Committee Chairman Mike Enzi (R-WY) and the Senate on passage of the FY 2016 Balanced Budget Conference Agreement:

“It has been an honor working with Chairman Enzi and his Senate colleagues these past few months, and they should be commended for this important achievement. Working together, we have built a balanced budget that will promote a healthier economy, make Washington more accountable, and help ensure a stronger, safer and more secure America. There is much we have done, and there is much yet to be done. In the weeks and months to come, we must build on this successful effort and continue to put forward positive solutions to the myriad of fiscal, economic and national security challenges facing our great nation.” 

Click here to learn more about the FY 2016 Conference Agreement 
 
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Price Applauds Final Passage of Balanced Budget Agreement

2015/04/30

WASHINGTON, D.C. – House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement applauding passage of the FY 2016 Budget Conference Agreement in the House of Representatives:

“The new Republican majority in Congress made a commitment to the American people to provide positive solutions to the nation’s challenges, to hold Washington accountable and to restore economic vitality so folks all across our country can realize their hopes and dreams for the future. With today’s passage of a joint House and Senate balanced budget – the first of its kind in over a decade – we have provided a positive vision for how we can achieve those goals. The credible solutions we are championing will build a brighter future for all Americans – one where individuals and families will have more opportunity, a more effective and efficient government, access to more affordable health care choices, a healthier economy and a safer, stronger and more secure nation. I’m grateful for the work done by my colleagues in both the House and Senate, and look forward to building upon this successful effort to tackle other big challenges that the American people elected us to solve.” Read More

Chairmen Price and Enzi Announce Balanced Budget Agreement

2015/04/29

WASHINGTON, D.C. – House Budget Committee Chairman Tom Price, M.D. (R-GA) and Senate Budget Committee Chairman Mike Enzi (R-WY) today announced that the Fiscal Year 2016 Budget Conference has reached an agreement on a joint Congressional balanced budget resolution.

The Chairmen noted that the conference agreement balances within 10 years, does not raise taxes, strengthens our nation’s defense, protects our most vulnerable citizens, improves economic growth and opportunity for hardworking families and stops the federal government’s out of control spending.

Read the full summary here.

“This balanced budget reflects a commitment on the part of the House and Senate to fulfill our obligation to be responsible stewards of taxpayer dollars,” said Chairman Price. “Our goal has always been to achieve real results for the American people, and I am grateful for the work of so many who have made this agreement and that effort successful. By working together we have provided a vision for how we can advance solutions to create more opportunity for Americans and a healthier economy, more accountability in Washington and a stronger, safer and more secure nation.” 
“Now that the Senate is under new management, we are getting back to work rebuilding the trust of hard-working Americans and doing the people’s business,” said Chairman Enzi. “Congress is poised to approve a 10-year balanced budget for the first time since 2001, which represents an important step in confronting the nation’s chronic overspending. This will help change the way we do business here in Washington to make the government live within its means – just like hard-working families. Most importantly, this balanced budget will boost our nation’s economic output and restore the promise of a government that is more effective and accountable.”
 
Congressional Balanced Budget Resolution:

• Balances the Budget within 10 years without Raising Taxes
• Ensures a Strong National Defense
• Repeals Obamacare to Start Over with Patient-Centered Reforms
• Strengthens Medicare 
• Protects Social Security
• Supports a Healthier Economy and Stronger Economic Growth
• Improves Efficiency, Effectiveness & Accountability of Government
 
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Contact Information

207 Cannon HOB
Washington, DC 20515
Phone 202-226-7270
Fax 202-226-7174
budget.house.gov


Membership

Diane Black

TENNESSEE's 6th DISTRICT

Marsha Blackburn

TENNESSEE's 7th DISTRICT

Rod Blum

IOWA's 1st DISTRICT

Dave Brat

VIRGINIA's 7th DISTRICT

Tom Cole

OKLAHOMA's 4th DISTRICT

Mario Diaz-Balart

FLORIDA's 25th DISTRICT

Scott Garrett

NEW JERSEY's 5th DISTRICT

Glenn Grothman

WISCONSIN's 6th DISTRICT

Vicky Hartzler

MISSOURI's 4th DISTRICT

Tom McClintock

CALIFORNIA's 4th DISTRICT

John Moolenaar

MICHIGAN's 4th DISTRICT

Alex Mooney

WEST VIRGINIA's 2nd DISTRICT

Gary Palmer

ALABAMA's 6th DISTRICT

Tom Price

GEORGIA's 6th DISTRICT

Tom Rice

SOUTH CAROLINA's 7th DISTRICT

Todd Rokita

INDIANA's 4th DISTRICT

Mark Sanford

SOUTH CAROLINA's 1st DISTRICT

Marlin Stutzman

INDIANA's 3rd DISTRICT

Bruce Westerman

ARKANSAS' 4th DISTRICT

Steve Womack

ARKANSAS' 3rd DISTRICT

Rob Woodall

GEORGIA's 7th DISTRICT

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