House Republicans Announce Their 'Balanced Budget for a Stronger America'

House Budget Committee Chairman Tom Price leads announcement of 10-year budget blueprint.
15:41 | 03/17/15

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Transcript for House Republicans Announce Their 'Balanced Budget for a Stronger America'
Am very very proud to to join my colleagues members of the house budget committee to present. A balanced budget for a stronger America. When I talk with folks back in my district back in Georgian talk with folks around the country. They are very concerned. Somewhat more angry someone really frustrate. About the direction of our great country. They feel we're adrift Washington seems incapable of addressing their concerns. That the federal government is getting in the way. And impeding the very spirit of the American people. The president's response in his budget. More taxes. Or spending. Borrowing. More debt more stagnant growth. And remember that every single dollar every dollar that's taken for taxes. Or that's taken to borrow money is a dollar that can't be spent. My car to paid rent. Descended chabot college or technical school my house to expand the business grow a business create jobs. We think there's a better way. Chairman of the Joint Chiefs of Staff admiral Mike Mullen said a few years ago when asked what the number one threat was to the united states of America's security national security number one threat. He sat with the debt. Yet. What he knows in what the American people now is that unless we have economic security we cannot have national security. Instead of the insecurity and uncertainty of the president's plan we think there's a better way. We believe in promoting the greatest amount of opportunity. For the greatest number of Americans so that the greatest amount of success can be realized the greatest number of American dreams can be found. And in doing so. In doing so in a way to demonstrate real and real optimism and real compassion and real fairness about Washington picking winners and losers. Our balanced budget for a stronger America saves five and a half trillion dollars gets to balance within ten years without raising taxes. We responsibly lay out a plan for a healthy economy an opportunity economy. When it opens the doors for people not subjects them to the dictates of Washington DC. We save and strengthen Medicare and Medicaid. Instead of allowing them to continue on their path to insolvency which is apparently the president's plan means. We recognize the imperative a providing for our military men and women and their families the resource is that are needed to protect our national security and to respect their service. In fact our budget spends more on national defense and the president's and we do so in a responsible way that address is current law. And lays out a path to address the ongoing concerns of the military so that they're better able to plan and prepare to meet current challenges and those in the future. We believe in America. We believe in Americans. We understand our problems are significant. And we hear the people of this nation crying out for leadership here in Washington DC. This balanced budget this I'll fight for stronger America will result in a government that is more efficient and effective and accountable. One that frees up the American spirit. American optimism and enthusiasm to do great things and to meet great challenges. We encourage our colleagues and fellow citizens across this nation to join us this exciting opportunity. And go to budget dot house dot gov budget that house that gov and download our Iraq our blueprint budget. Got a few members of that House Budget Committee will make some comics about some specific areas of our budget. First up at the gentleman from Indiana the vice chairman of the Budget Committee mr. rookie. Thank you chairman tot repeat Indiana vice chairman of the committee one first oh. Proud I am just in front. Of my fellow colleagues here we have taken our job very fierce. Hours of member meetings putting this responsible. And accurate document together not hours of staff means committee staff hours of number. We each have been actively engaged in this process I think that's where known. A first and foremost it's important note that this balance the budget balances within ten years. Now that is the quick yes. Of any of the recently passed house budgets. And it's also important to note that it's a very stark contrast. To the president's. Budget. That never balances. How can we begin. To pay our debt if we can even get the balance on the president's plan. Our plan does that it doesn't responsible way in after that themselves to be in the paid on or dead so that future generations aren't saddled. With irresponsible decisions that have been made in the past. A balanced budget is crucial to giving individuals families and businesses greater certainty for the future. And it shows the American people and frankly. The rest of the world that we are ready to make the tough decisions. And hold government accountable. Outspent our her partner and tax dollars and why America. Should be the financial. Leader for years to Tom. Well. Think its chairman my name's rob what all I'm. From seventh district of Georgia not want to talk about the job opportunities that are in this. A budget the truth the matter is a budget is eight is a moral document it talks about where your values all our. And what this committee values with this conference values is the opportunity for job creation happen to be with a group of manufacturers this morning. Completely unsolicited they sit rob you can give us bad news that you can give us good news but what we needed certainty. Hey we can have certainty in we can get back to the business of creating jobs. In an uncertain economy in in a world where the president's budget. Reports. Two that borrowed not just next year not fifteen years from now but twenty years from now thirty years from now and forty years from now. Job creators know there is no certainty. This budget. Balances in a responsible way provide certainty on issues of all the interest rates and borrowing because we know America and America's government will no longer be that that dominant Baruch provide certainty in the tax code. How many state of the union speeches have we all sat through what we talked about the importance. Of reforming the tax code order create American jobs. But how many proposals have we seen come forward from downtown this budget. This budget. Anticipates that fundamental restructuring of the tax code that allows us to be the absolute magnate for job creation around them around the globe. From streamlining regulations. To focusing on energy production. Item after item he will see that commitment to certain. I'm very proud of what this budget committees I'm proud of what the last four budget committees have done but we never had an opportunity. To partner with the senate actually prog by that certainty. For good. I hope you'll look carefully what is different this year when folks are played with with. The opportunity for the first time in line short. Congressional. Career to actually bring a budget. Cut to the United States of America I'm grateful to treatment for his leadership. Four more accurate. Thank you mr. chairman and good morning to all you let me say that it is an honor to be here with my members of the committee. And each of you as we unveil this aid balanced budget for a stronger America. As a nurse for more than forty years I'm pleased to tell you that this budget repeals all of Obama camp. The onerous taxes the mandates and the regulations. That are raking having won our health care system. And our economy. We additionally and the volunteers 700. Billion plus raid or Medicare. And we put forward a proposal. To save and strengthen the program for today seniors and future retirees. For a our budget empowers states by giving them the flexibility that's needed. Tailored their Medicaid programs that fit the unique needs of their own populations. And we column policy makers to start over with a Health Care Reform that puts patients. Families and doctors in charge not Washington bureaucrats. I'm very proud of this budget and I look forward to future action to put this budget in action and pass into law. Thank. Mr. chairman. Thank you thank you so much. We're enthusiastic. Enthusiastic about the future of our great country we recognize that there are huge challenges and we know that economic security is the key to national security. And the key to a brighter more hopeful future for all Americans. Again our budget. A balanced budget for a stronger America it's a passport to that brighter future for government lot lives within its means. Where Washington is more efficient and effective and accountable. We embrace the challenge and the opportunity. We call again on our colleagues and our fellow citizens across this great country as we move forward together. Balanced budget for a stronger America budget that house. Take questions. Didn't. C a great opportunity that we have with face and it that is now in Republican hands is that we have an opportunity to have a unified budget between the two chambers. And do something called reconciliation which is an opportunity to pass a piece of legislation out of the house and out of the senate. We just 51 votes in the United States senate and put it on the president's desk. Two but for good policy. And to provide a contrast for the American people to see who's trying to solve these challenges and who might be standing in the way. Our reconciliation directives will direct. Eight or nine a different committees two. To identify areas savings as the flexibility. To be able to addressed the issue of obamacare repeal. Has flexibility to address other items session of the conference did desire to do so we have specific language that identifies. Calls on the committees of jurisdiction. Identifies the ways in which show obamacare might be. We're fine. Reconciliation and that amount of savings that we that we find in our budget itself and demonstrate over ten year period of time or two different things. For the reconciliation instructions that are given to the committee are put at an appropriate level that allows them to go above that that's safe or not a ceiling. So were able to address the kinds of deficit reduction that that that we might desire. But again it's also an opportunity to provide positive solution of the American people desire put it on the president's desk. And encourage him to sign. Yeah. Because we believe in the American people. And we believe in growth. The amount of a spending that's done here in Washington we believe to be and a level that we can rein Ian. But just decreasing spending are reining in spending is not gonna get us to kind of economy that we want the kind of economy that will allow the American people to get back to work and realize their dreams. The tax reform that we've identified in the proposals that we put forward we believe will result in significant increase in growth in its support for people to appreciate this. The Congressional Budget Office has decreased its its estimate on growth in this country. It from 3% four years ago to 2.3 percent annually over the next ten years. 2.3 percent a recognize that the average for the last forty years has been 3.3 percent growth. What's that difference mean what's that 1% different me if it's me. At means over three. Trillion dollars three trillion dollars over that period of time in greater revenue to the federal government because of the greater increase in economic activity. So as I mentioned before we believe in the American people. We believe in the in the vitality of their enthusiasm and the vitality of an economy. If you let it loose if you let it go and that's what we embrace this in this budget. We we we not only believe that it that it will we believe it will exceed not isn't accounted for in in in our budget in numerical values because we believe as I mentioned. That if you if we increase growth. From 2.3 percent to 3.3 percent which is than average over the last forty years. The increase in revenue to the federal government will be over three trillion dollars over that over record time more than covering the that the based on the CBO estimates. Yes let me let me and encourage you to take a peek at. A balanced budget for stronger America budget that house that got has all of the specifics and I encourage you to go there and encourage the American people to go there all the kinds of and if you go through the document itself they're very specific notations as to where that money comes from. All the other mandatory programs so the kinds of programs. The welfare programs we were we encourage working as as area. A compliment. Participating in in a welfare program for able bodied. Adults. Me this map program the food stamp program we believe it's much better run at the state level as opposed to the federal level each and every one of those things. Gets you a certain amount of savings and and witnesses. That over the the constellation of all of them results in significant savings for the American people again so that we can get the economy wrong. A we don't account for any revenue in in our budget because of the question that India's and that is well how can you can you. Plug in number in there when you don't know what it's exactly going to be we however feel strongly and confidently. That as has happened every time that the federal government has reduced taxes for the American people it is increased revenue to two the federal government. So we believe that a strong and vibrant economy rests on pro growth tax reform and we allow have to be able to make that happen. Because of the the process that they go through scores you know is now it is about violence and exploring which doesn't recognize. The feedback that happens in in the dynamic weight that our economy works. So we're excited about the opportunity we have we're I can't tell you how proud I am of the men and women standing in the work that they've done on the Budget Committee. We look forward to having this in mark up tomorrow we look forward to having an on the floor next week. And we're happy to answer any questions. After this press thank you so much they care complex.

This transcript has been automatically generated and may not be 100% accurate.

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