{"id":1947561,"date":"2023-06-14T19:01:01","date_gmt":"2023-06-14T23:01:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-study-committee-aims-to-balance-federal-budget-in-seven-years\/"},"modified":"2023-06-14T19:03:29","modified_gmt":"2023-06-14T23:03:29","slug":"republican-study-committee-aims-to-balance-federal-budget-in-seven-years","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-study-committee-aims-to-balance-federal-budget-in-seven-years\/","title":{"rendered":"Republican Study Committee&#8217;s goal: Achieve federal budget balance within seven years."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frepublican-study-committee-aims-to-balance-federal-budget-in-seven-years%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1947561&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0614\/f59248fc-8436-48ba-813c-684b328a059d\/audio.mp3?length=4433229&#038;duration=369\"><\/div>\n<\/p>\n<p>The House Republican Study Committee (RSC) has unveiled an exciting 2024 budget proposal that not only aims to balance the federal budget in just seven years, but also champions conservative values, strengthens national defense, stabilizes Social Security, and slashes taxes for businesses and individuals.<\/p>\n<p>According to Caucus Chairman Kevin Hern (R-Okla.), this budget is a clear reflection of the Republican values. He stated, &#8220;It all boils down to something we\u2019ve heard the president [Joe Biden] say quite a few times this year. Show me your budget, and I\u2019ll show you your values. Our values are clearly on display with this budget.&#8221;<\/p>\n<p>Hern further emphasized the key priorities of the budget, saying, &#8220;We\u2019re protecting life. We\u2019re defending our borders. We\u2019re strengthening our military. We\u2019re cutting taxes for working families, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-republican-led-states-continue-to-lead-in-economic-recovery-through-march\/\" title=\"Analysis: Republican-Led States Continue to Lead in Economic Recovery Through March\">helping small businesses thrive<\/a>, saving Medicare and Social Security for future generations, and unleashing American energy production. And we\u2019re just getting started.&#8221;<\/p>\n<p>The Caucus members presented this budget proposal as a solution to what they perceive as the unsustainable fiscal path set by the Biden administration. Rep. Ben Cline (R-Va.), chair of the RNC budget task force, criticized the reckless policies of President Biden and congressional Democrats, which have resulted in a record $10 trillion in new spending, historic inflation, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/feds-waller-says-he-will-tackle-inflation-claims-mistakes-of-70s-wont-be-repeated\/\" title=\"Fed\u2019s Waller Says He Will Tackle Inflation, Claims Mistakes of 70\u2019s Won\u2019t Be Repeated\">massive interest rate hikes<\/a>.<\/p>\n<p>The budget includes commonsense reforms that aim to reduce spending by $16 trillion over the next 10 years, with a focus on cutting nondefense discretionary spending by $5 trillion. Rep. Roger Williams (R-Texas) expressed his confidence in the budget, stating, &#8220;There\u2019s two ways to keep the books. You can cook the books or you can balance the books. This right here balances the books.&#8221;<\/p>\n<p>Let&#8217;s take a closer look at some of the major provisions in this budget:<\/p>\n<h2>Spending at 2022 Levels<\/h2>\n<p>This budget proposes to reduce nondefense discretionary spending to the 2022 level, which was originally proposed by Republicans. This level was revised during debt ceiling negotiations between House Speaker Kevin McCarthy (R-Calif.) and Biden. However, as Rep. Cline clarifies, the negotiations set a ceiling on spending, not a floor. Therefore, if the appropriations committee chooses to spend less than the ceilings, it is completely within the framework.<\/p>\n<h2>Stabilize Social Security and Medicare<\/h2>\n<p>The RNC plan addresses the impending insolvency of the Social Security and Medicare trust funds, which is projected to occur in about 10 years. Failure to address this issue would result in a 23 percent cut in benefits over the next decade. The proposed budget aims to expand consumer choice and provider competition in Medicare to lower premiums. It also suggests increasing the age of eligibility to 69, gradually increasing by three months per year for individuals who are currently 59 years old or younger.<\/p>\n<h2>Shrink the Federal Government<\/h2>\n<p>Several provisions in the budget aim to limit the power of the federal government in regulating businesses. One such provision suggests reinstating the Trump administration\u2019s executive orders, which required the elimination of two federal regulations for every new regulation adopted. Additionally, the budget proposes abolishing the Consumer Financial Protection Bureau and the Federal Insurance Office.<\/p>\n<h2>Reduce Taxes<\/h2>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-says-fiscal-responsibility-is-one-of-the-values-of-his-enormous-5-8-trillion-budget-proposal\/\" title=\"Biden Says \u2018Fiscal Responsibility\u2019 Is One Of The Values Of His Enormous .8 Trillion Budget Proposal\">budget proposal includes<\/a> the repeal of approximately $553 billion in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/in-depth-3-things-to-know-about-house-debt-limit-bill-set-for-vote-this-week\/\" title=\"IN-DEPTH: 3 Things to Know About House Debt Limit Bill Set for Vote This Week\">green-energy tax credits<\/a> and around $350 billion in tax increases on businesses. It also suggests rescinding $80 billion in funding provided to the IRS over the next 10 years to ensure the payment of federal taxes. Furthermore, the budget aims to lower taxes on businesses that invest in manufacturing equipment, create a new category of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republican-study-committee-aims-to-balance-federal-budget-in-seven-years\/\" title=\"Republican Study Committee's goal: Achieve federal budget balance within seven years.\">tax-free individual retirement savings accounts<\/a>, and abolish the tax.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The House Republican Study Committee (RSC) unveiled a 2024 budget plan to balance the federal budget in seven years. The proposal aims to promote conservative principles, fortify Social Security, enhance national defense, and reduce taxes for businesses and individuals. This aligns with President Joe Biden&#8217;s repeated statements.<\/p>\n","protected":false},"author":1793,"featured_media":1947562,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[12915,7956,4463,5365,3974,6249,3911,4866,4346],"class_list":["post-1947561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-achieve","tag-balance","tag-budget","tag-committees","tag-federal","tag-goal","tag-republican","tag-study","tag-years"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1947561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1793"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1947561"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1947561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1947562"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1947561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1947561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1947561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}