United States HRES 818: Expressing support for a balanced budget.

Bill Text

IV
116TH CONGRESS
2D SESSION H. RES. 818
Expressing support for a balanced budget.
IN THE HOUSE OF REPRESENTATIVES
JANUARY 30, 2020
Mr. BUDD (for himself, Mr. MEADOWS, Mr. ROUZER, Mr. MURPHY of North
Carolina, Mr. BISHOP of North Carolina, and Mr. HUDSON) submitted
the following resolution; which was referred to the Committee on Ways
and Means
RESOLUTION
Expressing support for a balanced budget.
Whereas the Federal Government’s fiscal trajectory is highly
unsustainable and risks triggering a United States finan-
cial crisis that could undermine the prosperity of the
American people;
Whereas the majority of the American people want to see
Congress take action to significantly reduce the Federal
budget deficit;
Whereas the national debt now exceeds $23,000,000,000,000
dollars, equivalent to approximately $70,000 for each cit-
izen in America;
Whereas research shows that reducing Government spending
rather than raising taxes is the most effective way to re-
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•HRES 818 IH
duce the deficit and has historically been correlated with
fiscal success around the world;
Whereas studies show that when the Federal Government
cuts taxes on American businesses and job creators, they
are more likely to hire new workers and make invest-
ments;
Whereas reducing Government spending and not increasing
taxes directly improves the economy by increasing the
confidence that business owners and investors have in the
economy;
Whereas the Government can help businesses and the econ-
omy succeed by focusing on supporting the private sector
rather than imposing heavy taxes on American busi-
nesses;
Whereas every increase in spending should be offset with a
spending decrease; and
Whereas defense spending is critical to the security of the
United States and cannot be forgoed for increases in
nondefense discretionary spending: Now, therefore, be it
Resolved, That the debt ceiling should not be raised 1
without significant fiscal and spending reforms that would 2
put the United States on a path to balance the budget. 3
Æ
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