Washington—Today, the Republican Study Committee released their Fiscal Year 2020 Budget: “Preserving American Freedom.” The budget implements many conservative policy proposals and reduces overall government spending while meeting our country’s national security needs. Most importantly, it balances the federal budget by 2025 while fully funding our military.
The annual budget process in Congress is an important opportunity for the political parties to make the case for their policy vision to the American people. Budgets are not just a set of numbers but rather they reflect the priorities of those who write them. However, under Speaker Pelosi, the House Democrats have decided to not produce a budget this year. This failure undermines a crucial chance for Americans to gain a clear understanding of the policy priorities of the Democrats and how the Democrats intend to pay for those priorities.
Heritage Action released the following statement from Executive Director Tim Chapman:
Americans deserve to know how their elected officials intend to govern their country. The budget is the best roadmap to a ruling party’s priorities. With the backdrop of Speaker Pelosi and House Democrats’ failure to produce a budget, the Republican Study Committee and Chairman Mike Johnson have honored Americans by laying out a clear vision for the country. They have taken the opportunity to advance policies that would defend our nation, rollback an intrusive federal government, expand healthcare options, and reduce our debt.
Each year, the Republican Study Committee is at the forefront of efforts to make the federal government more responsive to Americans, reduce its footprint in American’s lives, and control our spending. This year is no different.
The “Preserving American Freedom” budget advances economic and job growth by reforming programs in order to move Americans back into the labor force, reward work, and promote innovation. It builds on the Tax Cuts and Jobs Act by making the individual cuts permanent and allowing Americans to save up to $10,000 per year tax free. It implements regulatory budgeting to reduce the financial burden of regulations on Americans. It meets the Department of Defense budget request of $745 billion in 2020 and fully funds our border security needs. The cumulative result of all the reforms result in $12.6 trillion in reduced spending over the next ten years with the budget completely balancing by 2025.