House of Representatives

House Keeps Increasing Deficits With Extenders

The House passed today two bills permanently reinstating three tax provisions that expired at the end of 2013. Extending these provisions would cost about $75 billion. Because they approved these tax cuts without offsetting savings, the two bills would add about $95 billion to the deficit, including interest.

House Affordable Medicines Caucus Has Options

Reps. Peter Welch (D-VT) and Keith Rothfus (R-PA) have officially re-launched a bipartisan caucus in the House looking to promote the use of high-quality, low-cost drugs.

Want to Understand The Appropriations Process? This 101 Will Tell You Everything You Need to Know

Appropriations season is in full swing. The House has already passed the Legislative Branch and Military Construction-Veterans Affairs bills, while the Senate Appropriations Commitee is scheduled to officially set 302(b) allocations and mark up the Military Construction-VA and Agriculture bills this Thursday.

Comparing Debt Under the FY2015 Budgets

Budgets for the upcoming fiscal year have been released from the White House, House Republicans, House Democrats, the Republican Study Committee, the Congressional Progressive Caucus, and the Congressional Black Caucus. All of them offer competing visions for the size and scope of government over the next decade.

The Republican Study Committee's Alternative Budget

Just after House Democrats released their budget this week, the Republican Study Committee has come out with its own proposal to balance the budget in just four years. The budget reduces spending by $7.4 trillion over ten years relative to their baseline, which includes a war drawdown. By 2024, the budget produces a surplus of nearly $300 billion, or 1.1 percent of GDP.

House Democrats Release Alternative FY 2015 Budget

This blog has corrected the amount of Medicare savings in the budget. It previously said $50 billion, but that included the cost of repealing the Medicare sequester.

An Overview of the Ryan FY 2015 Budget

This morning, House Budget Committee Chairman Paul Ryan released his FY 2015 budget proposal, "The Path to Prosperity." The budget reaches balance in 2024 by cutting over $5.1 trillion of spending over ten years (relative to a "PAYGO baseline"), and it assumes an additional $175 billion in deficit reduction from a "fiscal dividend"

House Hearing on 'Why Debt Matters'

The House Financial Services Committee held a hearing this morning on "Why Debt Matters," which included testimony by Honeywell CEO Dave Cote, former CBO and OMB director Alice Rivlin, former CBO director and American Action Forum president Douglas Holtz-Eakin, and former economic adviser to Vice President Biden and current Center on Budget and Policy Priorities fellow Jared Bernstein.

Steny Hoyer Calls for a 'Grand Bargain'

House Minority Whip Steny Hoyer (D-MD) called on Congress to lay the groundwork for a budget grand bargain. Speaking this morning, Hoyer urged members of Congress to embrace common ground to achieve "a sustainable long-term budget outlook." He described the need for a comprehensive budget bargain and highlighted several specific areas where progress can be made, such as passing comprehensive immigration reform, addressing the expired tax extenders, and shoring up the highway trust fund.

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