President Obama signed the Bipartisan Budget Agreement into law on Thursday, and House Budget Committee Chairman Rep. Paul Ryan (R-Wis.) applauded the move and called for legislators to build on recent progress in bipartisanship.
Ryan and Senate Budget Committee Chairwoman Sen. Patty Murray (R-Wash.) recently negotiated the Bipartisan Agreement, which was then approved by the House of Representatives and the Senate.
“I want to thank the president for signing the Bipartisan Budget Act into law,” Ryan said. “It doesn’t go as far as I’d like, but it’s a firm step in the right direction. This law is proof that both parties can work together. We can put aside our differences and find common ground…”
Ryan noted that the bill reduces the deficit without raising taxes and cuts spending in a smarter way.
“In the year ahead, I hope to build on the progress we’ve made,” Ryan said. “We need to find ways to make divided government work and to grow our economy. We need to think anew about the challenges facing our communities. With millions of Americans struggling to make ends meet, there is much more work to do.”
The Bipartisan Budget Act sets discretionary spending at $1.012 trillion for the fiscal year, which is approximately halfway between the Senate’s proposed level of $1.058 trillion and the House’s proposed level of $967 billion.