Walker Supports Budget that Balances in 10 Years, Paves the Way for Tax Reform; House Votes on Republican Study Committee Budget
WASHINGTON, D.C. – U.S. Representative Mark Walker (R-N.C.) today released the following statement after the U.S. House of Representative passed H.Con.Res. 71, the Establishing the congressional budget for the United States Government for fiscal year 2018 and setting forth the appropriate budgetary levels for fiscal years 2019 through 2027, in a 219-206 vote:
"20.2 trillion. Our national debt is more than $20.2 trillion. Let’s put it this way: each American's share of the national debt is $62,000. From the retiree in Greensboro who has already done so much to serve the country to the newborn child in Burlington with so much potential, $62,000. In fact, it’s more than the median American family brings home in an entire year.
"Is it not a moral injustice to leave this level of debt to the next generation? We’ve been making this argument in the House for years. Today, it’s time to make a difference."
Walker voted in favor of the legislation, which would balance the budget over 10 years and offers strong conservative reforms that put the government on path to fiscal responsibility. The budget also paves the way for tax reform by prompting the creation of a budget reconciliation package that can serve as a legislative vehicle for changes in the tax code.
Just before the vote, the House voted on the "Securing America’s Future Economy" Fiscal Year 2018 Budget of the Republican Study Committee (RSC), which Walker chairs.
The RSC budget:
- Balances by 2023
- Provides A Responsible Fiscal Path
- Strengthens National Security
- Fully Repeals and Replaces Obamacare
- Makes Social Security Solvent
- Saves Medicare
- Rescues Disability Insurance
- Reforms the Tax Code
- Creates an Environment for Economic Growth and Jobs
- Empowers People to Ensure Opportunity, Upward Mobility, and Self-Sufficiency
- Restores Constitutionalism, Limits and Reforms Government, and Fixes the Budget Process
That vote failed 139-281. However, in a testament to Walker's conservative leadership in the House, this was the highest vote total for any RSC budget since President Obama took office. You can learn more about Walker's RSC Budget here.
Prior to the vote on the RSC budget, Walker spoke on the House floor about the budget, our national debt, and the implications for future generations. You can watch the speech above, and read the full transcript below:
"Thank you, Mr. Speaker. Thank you, Chairman.
"20.2 trillion. Our national debt is more than $20.2 trillion. Let’s put it this way: each American’s share of the national debt is $62,000. From the retiree in North Carolina who has already done so much to serve the country to the newborn child in New York with so much potential, $62,000. In fact, it’s more than the median American family brings home in an entire year.
"Our debt continues to mount even as federal reserves reach record highs. This leads to an undeniable conclusion, even from Captain Obvious: the federal government has a spending problem. The growing federal government has significant negative consequences for the country and its people. The large federal debt reduces investments, productivity and wages while federal interventions in the economy reduce the incentive to work, resulting in a shrinking labor market. The debt can have dangerous implications for national security.
"Implications for our national security recently causing a bipartisan leading nation security official to say: "Our long term debt is the single greatest threat to our national security."
"Most fundamentally, when the federal government is too big and too intrusive it interferes with our unalienable rights – to life, liberty, and the pursuit of happiness. Eleven months ago the American people voted to give Republicans unified control of government now it is time to follow through and implement the policy agenda the Congress and the President were elected on. As the calendar moves into fall the grade of the 115th Congress will be delivered on whether we can reform our inefficient tax code.
"This process starts with the budget. Along with repealing Obamacare and securing our border, the Republican Study Committee budget allows us to fulfill these promises and more. This fiscal year 2018 RSC budget ensures strong national security, a robust economic growth, equal opportunity for all, a sustainable social safety net, and a retune to constitutionally limited government, all with the goal of securing America's future economy.
"Instead of a future of high debt and low growth, the RSC budget proposed a positive blueprint for success and opportunity. Our budget focuses on pro-growth and pro-family policies that will boost America’s economy and provide a strong fiscal foundation for generations to come.
"Mr. Chairman in closing I would like to thank my friend Mr. McClintock for his leadership of this RSC Budget Task Force, as well as all of the members, all of the members of the Republican Study Committee who participated in this effort. With this budget we have accomplished our goals of detailing the variety of bold policy solutions as well as help to influence the balance budget offered by my friend Chairwoman Black, to include meaningful, enforceable reconciliation targets as the RSC budget does.
"So, with that, we can begin the central task of implementing these policies into law. My fellow members, when will our debt matter? Next year? The year after? In six years, we are projected to spend more than $650 billion on interest alone on our debt. What will it take for our friends on the Left to stop hijacking the American dream for our children and grandchildren?
"Is it not a moral injustice to leave this level of debt to the next generation?
"Mr. Speaker, we’ve been making this argument in the House for years. Today, it’s time to make a difference. I yield back the balance of my time."