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EXCLUSIVE: House Conservatives Float Plan to Balance Budget in 7 Years

"The federal government has spent more at a faster rate over the past two years than at any [other] point in history," says Rep. Jim Banks, R-Ind., center, pictured speaking during a press conference Wednesday following a Republican caucus meeting at the Capitol. Banks is flanked by Rep. Elise Stefanik of New York, GOP conference chair, left, and House Minority Whip Steve Scalise of Louisiana. (Photo: Kevin Dietsch/Getty Images)

House conservatives say they’ve crafted a plan to rein in government spending and balance the federal budget in seven years. 

The budget proposal from the Republican Study Committee would reduce mandatory spending by $11.86 trillion over 10 years while lowering nondefense discretionary spending by $3.64 trillion.

The U.S. government faces a budget deficit of $3.1 trillion. The accumulated national debt stands at $30 trillion

“A fiscally responsible budget isn’t just for conservatives—it’s for all Americans,” said Rep. Kevin Hern, R-Okla., chairman of the Republican Study Committee’s Budget and Spending Task Force. 

“The RSC budget prioritizes smart, commonsense policy to empower workers and save our country from a debt disaster,” Hern said. “When Washington spends less, American families have more.” 

The Republican Study Committee, considered the largest group of House conservatives, is the only group in Congress to release its own proposed federal budget this year. Rep. Jim Banks, R-Ind., is the chairman of the RSC. 

“The federal government has spent more at a faster rate over the past two years than at any [other] point in history. It’s not a coincidence that Americans are worse off than they’ve been in years,” Banks said in a written statement, adding:

Reckless spending has failed, and conservatives in Congress should take the opportunity to course correct, rein in spending, and save America from a dire fiscal future.

I’d like to thank the RSC Budget and Spending Task Force, its Chair Kevin Hern, and the over 80 RSC members whose policy proposals were included in this year’s budget. Producing a plan to balance the budget gets more difficult each year and it is only possible because of their contributions. 

This year’s RSC proposal includes a record number of legislative proposals from members.

Such proposals can drive debate or set the framework for future policy, even though it is unlikely to be enacted with Democrats holding majorities in the House and Senate, as well as one of their number, President Joe Biden, in the White House. 

The RSC’s proposed budget addresses health care, national security, entitlements, and other issues. It would: 

Leaders of several conservative organizations already say they support the Republican Study Committee’s budget proposal. 

“This budget addresses America’s most pressing challenges, by getting spending and inflation under control, protecting life, securing our borders, standing up to China, and more,” Heritage Foundation President Kevin Roberts said. “The RSC is going on offense, setting the tone for what conservatives must do when the people take back control.”

Jessica Anderson, executive director of Heritage Action for America, said in a statement: 

In recent years, the American people have been subjected to out-of-control federal spending that’s led to record-setting inflation and debt levels. However, there is still hope as the RSC has taken the initiative to draft its own budget—a basic task that the left has declined to engage in. If enacted, the RSC budget would lead America down a path of much-needed fiscal conservatism and we applaud Chairman Banks and Congressman Hern for leading the charge to get our fiscal house in order.

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