Press Release

 

Price Applauds Continued Progress on Budget Process Reforms

 

Washington, D.C.– House Republican Policy Committee Chairman Tom Price, M.D. (R-GA) issued the following statement after the House of Representatives passed two more bills this week as part of the House Budget Committee’s budget process reform effort. This week the House passed H.R. 3581, the Budget and Accounting Transparency Act of 2011 and H.R. 3521, the Expedited Legislative Line-Item Veto and Rescissions Act of 2011.  Chairman Price is a lead sponsor of H.R. 3581.

 

“As we wait for the president’s delayed budget proposal and learn that the Democrat led Senate will, once again, not even attempt to pass a budget, the House of Representative is pushing forward with reforms that address the shortcomings of our existing budget process,” said Chairman Price.  “Our massive debt is due not only to reckless spending policies in Washington but to a broken system that does not allow Congress to effectively budget in a practical and responsible manner.  We need greater transparency and accountability and the tools to cut wasteful spending. 

 

“The House Budget Committee’s reform effort would ensure a far more responsible use of taxpayer dollars, and help lawmakers bring about an end to the deficit spending.  Our challenges are tremendous, and they require serious leadership.  This means we ought to look for areas where we can come together and advance solutions that begin to hold all of Washington more accountable.”

 

The Budget and Accounting Transparency Act of 2011:

 

  • Addresses Washington’s reckless mishandling of taxpayer dollars by increasing transparency in the budgeting process and ensuring that federal credit programs and housing related government sponsored enterprises like Fannie Mae and Freddie Mac are kept on budget – allowing taxpayers a better understanding of how their money is being spent.
  • Includes market risk assessment in the budget process – something the private sector has long accounted for.
  • Ensures that the president’s budget is presented to Congress in the same terms as the CBO baseline and budgetary treatment.

 

The Expedited Legislative Line-Item Veto and Rescissions Act of 2011:

 

  • Allows the president to identify areas of wasteful spending while also protecting Congress’ constitutional authority to approve these spending reductions, do so in a timely manner, and ensure that every dollar of savings is put toward deficit reduction.

 

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