Senate Budget Chairman Mike Enzi released his budget proposal yesterday afternoon. The request follows yesterday’s proposal from House Budget Chairman Tom Price. The two requests are similar. Both would reduce projected spending by $5 trillion and balance the federal budget over the next ten years. Both budgets repeal ObamaCare, and neither includes reforms to Social Security. The big difference between the two is that the Senate version is even vaguer than the House version.
House Budget Committee Chairman Tom Price (R-GA) released his budget proposal this morning, which outlines spending priorities for 2016 through the next decade. The proposal is a mixed bag. It includes some reform steps, but also fails to aggressively confront the dire fiscal realities facing the nation with specific spending-cuts.
Over the next several months the Pentagon will award the contract for the Long Range Strike Bomber. If the Department of Defense’s history repeats itself, cost overruns on the project seem likely.
Policymakers are battling over a funding bill for the Department of Homeland Security (DHS) and its agencies, including the Federal Emergency Management Agency (FEMA). The disagreement over the bill involves the funding of President Obama’s recent immigration actions.
On Monday, the White House will release President Obama’s budget proposal for Fiscal Year 2016. The president is expected to reemphasize his previous fiscal approach of higher spending coupled with higher taxes, while completely ignoring the country’s long-term fiscal problems.
Republicans say they favor cutting regulations to spur growth and create jobs. And they generally favor expanding international trade. They can attain those goals by reforming labor union laws.
President Obama’s economic policies always seem to be a zero-sum proposition with winners and losers. Usually the losers are all Americans, who suffer from slower economic growth.
With the highway bill soon in front of Congress, and there being lots of agitation to increase federal funding, Adam Smith had words of wisdom for policymakers. He advocated user-pays and decentralization.
Another day, another news article supportive of raising the federal gas tax. This time it’s theWall Street Journal. The article notes that there is strong public opposition to raising gas taxes, but then proceeds to give us the arguments in favor of it, but none against. So for the next reporter writing about raising the gas tax, here are some policy reasons against it.
Over the weekend, the Senate approved the $1.1 trillion Cromnibus spending package, which funds parts of the government through September 2015.