The 2016 federal budget resolution will set the guard rails for federal spending and is a step in the right direction for our country. For the first time in years, both chambers of Congress will adopt a resolution for a balanced budget.
Families across my home state of Michigan tighten their belts when there is a change in household income or expenses and Washington must learn to do the same.
The balanced budget proposed by Republicans will not raise taxes on hardworking Americans, and will keep the promises that have been made to seniors while slowing the soaring national debt.
From our nation’s founding it took more than 200 years for the government to accumulate $5 trillion in debt. In 2008, the debt was $10 trillion, and in the last seven years it has skyrocketed to $18 trillion. Divided among 320 million Americans, a child born today inherits $56,250 in debt, or $225,000 for a family of four.
Leaving less debt to our children is vital and if we fail to act, debt payments will crowd out spending for the priorities of the American people, including national security, medical research and protecting the Great Lakes.
This budget also calls for tax reform, which has the potential to add 1 million new private sector jobs.
Many Americans just filed their tax returns, ending another year that they had to deal with the long and complicated federal tax code.
For middle-class families, tax time is stressful and leaves many fearing that they might be audited by the IRS.
For small business owners who file quarterly estimates, a better system cannot come soon enough. The tax code burdens their work and hurts their plans to expand and hire new workers. It buries them under paperwork and pulls their time and talents away from running their business.
The tax code is over 74,000 pages long and was last overhauled 29 years ago, before the Internet and cell phones gained widespread use.
It is time for an updated tax code that is simpler and fairer. More Americans will move up the economic ladder if the federal government makes it easier for families to pay their taxes and for entrepreneurs to have certainty of their costs.
This budget addresses our country’s fiscal problems in a responsible way, and puts our nation on a brighter path for our children and our grandchildren.
— Rep. John Moolenaar (R-MI)