Washington—This afternoon, Senate Majority Leader Mitch McConnell (R-Ky.) announced a bipartisan, bicameral agreement to increase the existing statutory budget caps by $300 billion over the next two years. If those increases establish a new baseline for defense and non-defense discretionary spending, the impact over the ten year budget window will be roughly $1.5 trillion. Additional items likely include roughly $90 billion in disaster recovery spending, another suspension of the debt ceiling, and a host of additional policy changes. Heritage Action released the following statement from Chief Executive Officer Michael A. Needham:
“While our nation’s military was woefully underfunded by the previous administration, today’s deal is fiscally irresponsible and creates serious long-term budget challenges. President Trump was elected to drain the swamp and speak up for the forgotten men and women. The deal, crafted by congressional leaders, also sets the stage for additional policy concessions, including a so-called gentlemen’s agreement to bailout Obamacare. It only serves as a reminder of just how out of touch Washington remains with the rest of the country.”
Heritage Action intends to key vote against the deal and will release an official key vote after reviewing text.