**Senate Passes Decade-Long Budget Plan Aimed at Reducing Debt**

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15 days ago - Politics

Senate Approves New Budget Plan for the Next Decade

In a significant decision, the Senate has passed a new budget plan aimed at guiding the financial management of the U.S. government for the next ten years. Senators voted 52 in favor and 48 against this plan, showing strong support mainly from Republican senators.

The budget plan is designed to deal with important issues like how much money the government is spending and how it can earn more to reduce debt. Specifically, it sets out how different government committees will handle their budgets from now until 2034.

One of the major changes this budget plan introduces is an allowance for committees to suggest spending increases, but with limits. For instance, the Armed Services Committee can suggest a spending increase of up to $100 billion over the next decade. Meanwhile, some committees have to find ways to cut back on spending significantly. For example, the Education and Workforce Committee needs to save at least $330 billion, and the Energy and Commerce Committee's goal is to cut down spending by $880 billion.

The budget plan makes it clear that the government needs to save at least $2 trillion by 2034. If the committees do not meet their savings goals, the Budget Committee can reduce the amount of money they are allowed to spend. For instance, if a committee fails to propose enough cuts, it could lead to less money available for other important services.

This budget plan also aims to encourage business growth to make the economy stronger. It calls for reducing government spending, promoting American energy, lowering taxes, and removing rules that could make it harder for businesses to thrive. The idea is to create a healthy environment for businesses, which could lead to more jobs and better income for the government.

In addition, the plan proposes to raise the country's debt limit by $4 trillion and to ensure federal agencies manage their money more efficiently.

Overall, this resolution is about controlling government spending and aiming for financial stability over the next several years. It’s about making sure that citizens receive the essential services they rely on, while also working towards a more effective and prosperous economy.

This is a plan to manage the money the U.S. government spends and collects from 2025 to 2034.

  1. Budget Limits: Several committees must make changes to current laws to either reduce or increase the deficit. The key numbers are:

    • The Armed Services Committee can increase the deficit by $100 billion.
    • The Education and Workforce Committee must reduce the deficit by $330 billion.
    • The Energy and Commerce Committee must reduce it by $880 billion.
    • The Financial Services Committee must reduce it by $1 billion.
    • The Homeland Security Committee can increase it by $90 billion.
    • Other committees have similar goals, with some needing to cut even more.

  2. Debt Increase: The government may raise the debt limit by $4 trillion. This means it can borrow more money to cover expenses.

  3. Deficit Reduction: If the laws don't reduce the deficit by $2 trillion, changes will be made to keep the budget balanced.

  4. Economic Growth Policies:

    • The government wants to grow the economy by spending less, producing more energy, lowering taxes, and reducing regulations.
    • The goal is to help more people get jobs and improve the economy for everyone.

  5. Mandatory Spending: The U.S. has a large debt of $36 trillion, and more than 70% of the budget goes to mandatory spending. Reducing this spending is a top priority.

  6. Deregulation: The government wants to cut down on unnecessary rules that make it harder for businesses to operate and make money. This is meant to help the economy grow.

  7. Monitoring Changes: During this budget process, any changes in spending or debt will be closely watched to ensure everything stays on track.

This funding plan is crucial because it will shape how much the government can spend and borrow, directly affecting citizens' everyday lives, job opportunities, and the economy's health.

100 votes

Yes

52

No

48

Not Voting

0

-
  1. Motion to reconsider laid on the table Agreed to without objection.
  2. On motion that the House agree to the Senate amendment Agreed to by the Yeas and Nays: 216 - 214 (Roll no. 100).
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  3. Pursuant to clause 1(c) of rule XIX, the House resumed consideration of H. Con. Res. 14.
  4. Resolving differences -- House actions: On motion that the House agree to the Senate amendment Agreed to by the Yeas and Nays: 216 - 214 (Roll no. 100).
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  5. POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of rule XIX, the Chair announced further proceedings on H. Con. Res. 14 would be postponed.
  6. The previous question was ordered pursuant to the rule.
  7. DEBATE - Pursuant to the provisions of H. Res. 313, the House proceeded with one hour of debate on the motion to agree to the Senate amendment to H. Con. Res. 14.
  8. Mr. Arrington moved that the House agree to the Senate amendment to H. Con. Res. 14.
  9. Mr. Arrington moved that the House agree to the Senate amendment. (consideration: CR H1533: 2; text: CR H1533-1540)
  10. Pursuant to the provisions of H. Res. 313, Mr. Arrington called up the Senate amendment to H. Con. Res. 14.
  11. Message on Senate action sent to the House.
  12. Resolution agreed to in Senate with an amendment by Yea-Nay Vote. 51 - 48. Record Vote Number: 191.
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  13. Engrossed Amendment Senate

    This is a summary of a congressional document that focuses on budget resolutions and spending policies.

    1. Main Point: The resolution aims to manage government spending responsibly and avoid adding to the national debt.

    2. Key Details:

      • The government wants to keep taxes steady to protect families and small businesses from huge tax hikes.
      • It considers protecting programs like Medicaid, which helps vulnerable people.
      • If certain plans do not reduce the budget deficit by at least $2 trillion from 2025 to 2034, spending plans will be cut.
      • If plans do reduce the deficit by $2 trillion or more, budgets for committees will increase to support additional spending alignments.
      • In total, the U.S. aims to cut mandatory spending by $2 trillion also to help with the national debt that is currently over $36 trillion.

    3. Important Numbers:

      • $2 trillion target for deficit reduction over a decade.
      • $1.9 trillion projected deficit for fiscal year 2025.
      • $952 billion expected in net interest costs for the year.

    4. Impact on People:

      • These measures could help keep taxes down while ensuring important social programs are funded.
      • A reduction in spending and debt may lead to a more stable economy, which benefits everyone.

    These changes may not happen overnight, but they aim to create a more balanced budget that helps our economy grow and protects people's services.

  14. Passed/agreed to in Senate: Resolution agreed to in Senate with an amendment by Yea-Nay Vote. 51 - 48. Record Vote Number: 191.
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  15. Considered by Senate. (consideration: CR S2275-2360: 7)
  16. Measure laid before Senate by motion. (consideration: CR S2159-2168)
  17. Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 52 - 48. Record Vote Number: 169.
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  18. Motion to proceed to consideration of measure made in Senate. (CR S2159: 5)
  19. Placed on Calendar Senate

    This is a plan to manage the money the U.S. government spends and collects from 2025 to 2034.

    1. Budget Limits: Several committees must make changes to current laws to either reduce or increase the deficit. The key numbers are:

      • The Armed Services Committee can increase the deficit by $100 billion.
      • The Education and Workforce Committee must reduce the deficit by $330 billion.
      • The Energy and Commerce Committee must reduce it by $880 billion.
      • The Financial Services Committee must reduce it by $1 billion.
      • The Homeland Security Committee can increase it by $90 billion.
      • Other committees have similar goals, with some needing to cut even more.

    2. Debt Increase: The government may raise the debt limit by $4 trillion. This means it can borrow more money to cover expenses.

    3. Deficit Reduction: If the laws don't reduce the deficit by $2 trillion, changes will be made to keep the budget balanced.

    4. Economic Growth Policies:

      • The government wants to grow the economy by spending less, producing more energy, lowering taxes, and reducing regulations.
      • The goal is to help more people get jobs and improve the economy for everyone.

    5. Mandatory Spending: The U.S. has a large debt of $36 trillion, and more than 70% of the budget goes to mandatory spending. Reducing this spending is a top priority.

    6. Deregulation: The government wants to cut down on unnecessary rules that make it harder for businesses to operate and make money. This is meant to help the economy grow.

    7. Monitoring Changes: During this budget process, any changes in spending or debt will be closely watched to ensure everything stays on track.

    This funding plan is crucial because it will shape how much the government can spend and borrow, directly affecting citizens' everyday lives, job opportunities, and the economy's health.

  20. Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 38.
  21. On agreeing to the resolution, as amended Agreed to by the Yeas and Nays: 217 - 215 (Roll no. 50). (text: CR H818-823)
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  22. Passed/agreed to in House: On agreeing to the resolution, as amended Agreed to by the Yeas and Nays: 217 - 215 (Roll no. 50). (text: CR H818-823)
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  23. Engrossed in House

    This is a plan to change how the U.S. government handles money between 2025 and 2034.

    1. Main Point: The government wants to cut down on its spending (known as the deficit) by a total of $2 trillion. Different committees in Congress are given specific amounts they need to save or can only spend.

    2. Budget Changes Required:

      • Agriculture Committee: Save at least $230 billion.
      • Armed Services Committee: Can only increase spending by $100 billion.
      • Education and Workforce Committee: Save at least $330 billion.
      • Energy and Commerce Committee: Save at least $880 billion.
      • Financial Services Committee: Save at least $1 billion.
      • Homeland Security Committee: Can only increase spending by $90 billion.
      • Judiciary Committee: Can only increase spending by $110 billion.
      • Natural Resources Committee: Save at least $1 billion.
      • Oversight and Government Reform Committee: Save at least $50 billion.
      • Transportation and Infrastructure Committee: Save at least $10 billion.
      • Ways and Means Committee: Can increase spending by up to $4.5 trillion.

    3. Debt Limit Increase: The government plans to increase its borrowing limit by $4 trillion to manage debt.

    4. Impact on Daily Life:

      • Reducing spending means government services may change, and some programs may receive less money.
      • Increased efficiency in government is aimed at helping the economy grow, which could lead to more jobs.
      • If the budget cuts succeed, it can lead to a healthier economy in the long run.
      • More Americans may have the chance to enter the job market if barriers to work are removed.

    5. Overall Goal: The aim is to balance the budget in a way that helps the economy while also reducing government debt.

  24. Reported in House

    This document is about setting the U.S. government's budget from 2025 to 2034.

    1. The biggest goal is to manage the national debt, which is a lot of money that the government owes. The plan aims to either keep it under control or reduce it.

    2. Different committees in Congress must make changes to laws. Each committee has specific goals for how much to increase or decrease the debt:

      • Armed Services: Not to increase the debt by more than $100 billion.
      • Education and Workforce: Reduce the debt by at least $330 billion.
      • Energy and Commerce: Reduce the debt by at least $880 billion.
      • Financial Services: Reduce the debt by at least $1 billion.
      • Homeland Security: Not to increase the debt by more than $90 billion.
      • Judiciary: Not to increase the debt by more than $110 billion.
      • Natural Resources: Reduce the debt by at least $1 billion.
      • Oversight and Government Reform: Reduce the debt by at least $50 billion.
      • Transportation and Infrastructure: Reduce the debt by at least $10 billion.
      • Ways and Means: Not to increase the debt by more than $4.5 trillion.

    3. There will also be a review if the changes made by these committees do not reduce the total debt by $2 trillion. If so, adjustments will be made to keep things balance.

    4. The government aims for economic growth, which can help reduce the debt and improve jobs for people. It plans to cut spending, increase energy production, lower certain taxes, and lessen regulations that make it hard for businesses to grow.

    5. The national debt is currently over $36 trillion, and if we don't manage it, future generations will have difficulties because of it. This budget plan hopes to help fix these problems over time.

    Overall, this document outlines a clear plan for how the U.S. will budget money now and into the future, focusing on reducing debt and promoting economic growth.