WASHINGTON, D.C. – On Thursday, Sen. Rand Paul introduced a budget resolution based on the five-year balanced budget plan he unveiled in March. This afternoon he issued a Dear Colleague letter to Members of the Senate along with a copy of his budget resolution.
“It has been over 750 days since the Senate last passed a budget resolution and more than a month has passed since the April 15 deadline required by the budget act to pass a budget resolution for fiscal 2012,” Sen. Paul wrote. “To date, the Committee on the Budget has yet to even begin a markup on the 2012 budget resolution, which the Budget Act requires to be completed by April 1.”
The budget also is the only Senate budget that follows the guidelines set forth in the Balanced Budget Amendment to balance in 5 years, a goal supported by all 47 Senate Republicans.
The budget resolution, or S. Con. Res. 20, results in a $19 billion surplus upon balancing, and does so without raising any taxes or changing Social Security or Medicare during the budget window. It also maintains funding for the Department of Veterans Affairs and overseas military operation at the President’s requested levels.
The budget has been placed on the Senate calendar and is ready for floor action at any time.
Below are links to Sen. Paul’s budget resolution, top-line points, and the aforementioned Dear Colleague letter.
Senator Rand Paul 5 Year Balanced Budget Plan
One page summary of 5 year budget
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