U.S. Congressman Marlin Stutzman issued the following statement regarding the House Republican budget to be introduced by Chairman Paul Ryan:
“Hoosiers deserve a responsible, balanced budget,” Stutzman said. “Washington has put taxpayers nearly $17 trillion in debt, Medicare is on the verge of bankruptcy, and thousands have given up looking for a job. Chairman Ryan’s budget saves Medicare for future generations and ends the irresponsible cycle of deficits today and downgrades tomorrow. It also balances in just 10 years by adopting a common sense approach to the tough choices Washington must face.
“Unfortunately, the White House made it clear just yesterday that the President has no interest in actually balancing the federal budget and the budget to be introduced by Senate Democrats later this week includes a $1 trillion tax hike. Campaigning for tax hikes does nothing to balance the budget or create jobs. I applaud my friend and colleague Paul Ryan for his work and I invite President Obama and Senate Democrats to join us in making the hard choices to put our nation’s fiscal house in order.”
The House Republican budget reduces deficits by $4.6 trillion over the next 10 years, balancing the budget by eliminating wasteful spending and reforming the drivers of Washington’s debt. Because the federal government has a spending crisis, the budget stops spending money we don’t have.
The budget preserves Medicare for those in or near retirement, making no changes for those 55 and above, and saves Medicare for younger generations by implementing common sense reforms such as reforming the medical-liability system, repealing Obamacare’s health care rationing board, and means testing benefits for high-income seniors.
The budget calls for real tax reform that eliminates special-interest loopholes, simplifies the tax code, andlowers rates for all Americans. The plan would consolidate the current seven individual income tax brackets into two brackets of 10 and 25 percent.