SALT LAKE CITY – A bipartisan bill was introduced by Rep. Blake Moore, R-Utah, and Rep. Marie Gluesenkamp Perez, D-Wash., on Thursday. The Comprehensive Congressional Budget Act of 2024 aims to reform the federal budgeting process and address the U.S. debt crisis.
The proposed bill takes a holistic approach to the budget process, considering both spending and revenue. It aims to simplify the process while allowing input from the president and congressional committees.
Rep. Moore emphasized the need to reform the federal budget process, stating, ”Reversing Washington’s debt culture has been one of my top priorities in Congress. We must break the habit of appropriating with rushed deadlines and inefficient processes and rework our process so we can put together a strong budget with input from more members and committees.”
The current budgeting system primarily focuses on discretionary spending, which accounts for only about 45% of government spending. Entitlement programs and interest on the federal debt make up the rest of the spending. The proposed bill aims to address this imbalance and provide a comprehensive approach to budgeting.
Americans for Prosperity, a group advocating for limited government and free market policies, expressed support for the bill. Kurt Couchman, a senior fellow in fiscal policy, commended the bipartisan effort to fix the federal budget system, stating, “They recognize the need to fix the dangerously dysfunctional federal budget system.”
If passed, the bill would streamline the budgeting process, requiring committees to create detailed breakdowns of spending bills and revenue estimates. This would provide a more comprehensive and efficient approach to budgeting, addressing the current challenges and inefficiencies in the system.
Rep. Gluesenkamp Perez highlighted the urgency of addressing the national debt, which has surpassed $34 trillion by the beginning of 2024. The bill aims to tackle this growing problem and provide a more sustainable approach to budgeting and fiscal policy.
Overall, the Comprehensive Congressional Budget Act of 2024 represents a bipartisan effort to reform the federal budgeting process and address the U.S. debt crisis, providing a more comprehensive and efficient approach to budgeting and fiscal policy.
Disagree. More bureaucracy won’t fix the broken system. We need true reform, not just another band-aid solution.
Disagree. Political jargon won’t solve our financial woes. We need innovative solutions, not empty promises. #BudgetReformNeeded