Dear Bruce:
This year's budget battle outlines a stark difference in ideologies that are fighting to win the hearts and minds of the American public. My colleagues and I on the House Budget Committee have produced a sound budget that will direct our nation toward a sustainable path that effectively sustains our mission as a country and is efficient in maintaining its obligations.
As you may be aware, the President's budget results in the fourth consecutive annual deficit exceeding $1 trillion. In contrast, the House Republican budget saves $5 trillion relative to the Administration's proposal and charts a sustainable path in an effort to save our children and grandchildren from paying for our generation's reckless spending. Under the plan, we will reduce our deficits to below 3 percent of GDP and reduce the burgeoning size of the federal government to 20 percent of the economy by 2015.
Our responsible budget makes the hard choices that some politicians have chosen to ignore. The Republican budget prevents the President's $1.9 trillion in tax increases while reforming the tax code to make it more fair and competitive and eliminates special interest tax loopholes. Our budget simplifies the current Tax Code by creating two tax rates of 10 and 25 percent, repeals the Alternative Minimum Tax (AMT), and broadens the tax base. Furthermore, it reduces the corporate tax rate to 25 percent, allowing our companies to remain competitive in a growing global marketplace.
The House-passed 2013 budget also repeals the President's health care law, advances bipartisan solutions that take power away from government bureaucrats and put patients in control. Furthermore, it ensures that there are no disruptions under Medicare for those in or near retirement while ensuring a strengthened Medicare program for future generations.
While the Senate has not passed a budget in over 1,000 days, the House has made good on its obligations to the American people, and on Thursday, March 29, 2012, passed our second consecutive budget (H.Con.Res 112), by a vote of 228-191. I was proud to vote for this legislation and look forward to the months ahead as we begin this new phase in getting our country back on a sound fiscal path.
Please visit www.roadmap.republicans.budget.house.gov to see our budget plan in complete detail. I hope that you will not hesitate to contact me regarding any matter where I might be of assistance. You may visit http://www.house.gov/akin to find more information in issues or to subscribe to my e-newsletter.
Sincerely,
W. Todd Akin
