HOUSE TAKES FIRST MAJOR STEP IN ENACTING TAX REFORM
WASHINGTON D.C. – Congressman Kevin Cramer supported a Congressional Resolution today marking the first official step in enacting tax reform.
H. Con. Res. 71, the Fiscal Year (FY) 2018 Budget Resolution, sets the instructions for how Congress can enact spending changes and overhaul major priorities such as tax reform during FY2018. The Budget resolution passed today directs congress to balance the budget, and provide reconciliation instructions for tax reform and reduce mandatory spending by at least $203 billion.
“The budget resolution creates the rulebook for how Congress will enact tax reform,” said Cramer. “It’s an essential first step to passing tax reform through what’s known as budget reconciliation, which is the only legislative vehicle available to pass major legislation in the Senate on a 51-vote majority, instead of the standard 60-vote threshold needed for all other bills.”
“Passing this resolution today marks the next significant milestone for implementing tax reform this year,” said Cramer. “Congress is ready to simplify the tax code, empower our job creators, and give our hard American workers the tax cut they deserve.”
H. Con. Res. 71 gives Congress four key priorities to address in FY2018.
- Unleashing pro-growth tax reform: Using reconciliation, this budget is the key that unlocks pro-growth reform that reduces tax rates, simplifies the tax code, repairs the economy, and empowers job creators and hardworking Americans.
- Balancing the budget: The budget achieves $6.5 trillion in total deficit reduction over 10 years by cutting spending, reforming government, and growing the economy. The budget produces a $9 billion surplus in fiscal year 2027.
- Strengthening our national defense: With threats on the rise around the world, this budget provides our men and women in uniform the resources needed to face and complete the missions at hand. It includes significant funding to secure the border and protect the homeland, and calls for increased accountability at the Department of Veterans Affairs to ensure our veterans receive the care they deserve.
- Addressing unsustainable spending: Republicans remain committed to getting our fiscal house in order. This budget gives reconciliation instructions to 11 House committees to achieve at least $203 billion in mandatory savings and reforms. This is the largest mandatory reform package in 20 years and changes the culture of excessive spending in Washington. This budget also aims to reduce government-wide improper payments by $700 billion.