Lubbock Times

House Budget Committee Chairman Jodey Arrington from Texas made a public appeal on CBS News' "Face the Nation" and "The Hill Sunday" on NewsNation for the U.S. Senate to advance the House-passed budget resolution. This resolution is key to unlocking the reconciliation process in government budgeting and legislation.

While discussing federal spending, Arrington stated, "I think we should count on reducing spending. That is runaway, bankrupting levels of spending: $2 trillion in annual deficits that will double in the next 10 years. Half of that $2 trillion is interest on the debt that will more than double in the next 10 years." Arrington voiced a need to tackle this issue by reducing spending to mitigate unsustainable debt levels, cautioning about the possible economic impacts predicted by Ray Dalio.

Arrington further highlighted the significance of tariffs in the long-term economic strategy, saying, "You’ve got the tariffs, which I think are critical for our long-term prosperity to have that reset, have that fair, reciprocal trade dynamic that doesn’t exist today." He emphasized the need for economic adjustments under a new administration to enhance growth prospects and manage the debt-to-GDP ratio effectively.

The Chairman also addressed the House-passed budget resolution, explaining, "You have to strike a balance so that everybody has to grab a hold of the rope and pull our country back from the precipice of a debt crisis and to restore fiscal health." He called for a decrease in what he described as wasteful spending and highlighted the significance of tax cuts and domestic energy production in this strategy.

On extending the Tax Cuts and Jobs Act, Arrington expressed, "The Tax Cuts and Jobs Act that we’re talking about extending or making permanent actually increased the share of taxes paid by the top one percent." He argued that tax cuts have positively impacted low to middle-income families, promoting growth and investment.

Finally, Chairman Arrington discussed the need for a balanced budget resolution, explaining, "So, if the Senate is simply using current policy to get tax cuts permanent while avoiding or skirting the responsibility to bring down spending commensurately, then that’s a non-starter." He emphasized the importance of sound economic and fiscal policy for securing the nation's future.

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