House Budget Committee Chairman Rep. Paul Ryan (R-Wis.) introduced the 2015 House Republicans’ budget proposal for fiscal year 2015 on Tuesday.
The proposal, titled “The Path to Prosperity,” would cut $5.1 trillion in government spending, grow the economy, pay down the debt and lead to a balanced budget within 10 years.
“This is a plan to balance the budget and create jobs, and it builds off a simple fact: We can’t keep spending money we don’t have,” Ryan said. “This budget provides relief for families. Too many Americans struggle to make ends meet, while Washington continues to live beyond its means. It’s irresponsible to take more from hardworking families to spend more in Washington. (Tuesday’s) proposal – The Path to Prosperity – shows that it’s not too late to tackle our country’s most pressing challenges.”
The proposed budget would repeal the Affordable Care Act and prioritize funding for Medicare and national security. It would also overhaul the federal tax code and promote domestic energy security.
“The Bipartisan Budget Act was a good first step,” Ryan said. “But we can and must do more. As the House majority, we have a responsibility to lay out a long-term vision for the country, and this budget shows how we will solve our nation’s biggest challenges.
The Bipartisan Budget Act provides funding levels for fiscal year 2015 that the House Republicans’ proposed budget would adhere to.
House Majority Leader Rep. Eric Cantor (R-Va.) said the proposed budget would ensure that the government lives within its means and helps protect the middle class.
“House Republicans believe that we have an obligation to working middle class families to ensure that their government is accountable, lives within its means and provides access to opportunity,” Cantor said. “The Republican budget provides serious relief to families, many of whom are living paycheck to paycheck. Working middle class families live within their means, and they should expect nothing less from their government. This budget helps create jobs, grows our economy and puts more money back in people’s pockets.”