Rep. Arrington gets Steering Committee nod for House Budget gavel – JP

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 “Balancing our budget will require an unusual display of political will and fiscal constraint, but it must be paired with commonsense strategies that incentivize business investment, job creation and work,” Arrington wrote in an opinion piece for the Washington Examiner earlier this month.

Arrington, a member of the Ways and Means Committee, advocates changing the tax system to promote economic growth, getting rid of “burdensome” regulations and providing incentives for the unemployed to work.

He has been an early advocate of reimposing the discretionary spending caps that expired in fiscal 2021. He sponsored legislation in the last Congress to limit spending growth to 2 percent a year for the next decade, which he said would save about $500 billion. His legislation would leave it up to Congress to decide the split between defense and nondefense.

Last week, House Republicans took steps toward spending limits similar to those Arrington proposed. As part of an agreement reached to facilitate the election of Kevin McCarthy, R-Calif., as speaker, GOP leaders agreed to cap fiscal 2024 spending at fiscal 2022 levels. That would amount to a $130 billion, or 8 percent, cut from fiscal 2023 levels in the recently enacted omnibus spending law.

Members of the House Freedom Caucus who had opposed McCarthy also agreed to advance a fiscal 2024 budget resolution that would balance in 10 years. The idea is to model it after a proposal from former President Donald Trump’s budget director, Russ Vought, to cut some $10 trillion in projected spending and $3.3 trillion in taxes over the next decade.

Source
Las Vegas News Magazine

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