This week, the House of Representatives voted to pass the budget resolution for fiscal year (FY) 2018, which sets the overall discretionary spending level for FY18 at $1.132 trillion. Among the provisions were $75 billion in defense and $12 billion in non-defense funding for the Global War on Terror (GWOT), funding for border security, and calls for increased accountability at the VA. The resolution also outlines recommended budgetary levels and amounts for FY 2018 through FY 2027, including a proposed framework to balance the budget within ten years, $6.5 trillion in total deficit reduction within ten years, and achieving a $9 billion surplus by 2027. One of the keys to this budget passing the House is that it will allow the Senate to pass President Trump’s tax reform with a simple majority.
“As a legislative body it is our constitutional duty to pass a budget resolution that protects and promotes the well-being of our nation,” said Congressman Scott Taylor. “The budget for FY18 embodies the belief that government should live within its means, be accountable to its people, and provide for the common defense. While we still have much work to do in reducing our national debt, I believe this is an important step to putting our nation on a path to prosperity.”
“It’s a budget that will help grow our economy, and it’s a budget that will help rein in our debt,” said Speaker of the House Paul Ryan.
“Through reconciliation, our budget specifically paves the way for pro-growth tax reform that will reduce taxes for middle class Americans and free up American businesses to grow and hire,” said chair of the House Budget Committee Diane Black.