JASPER — U.S. Sen. Mike Braun announced this week he is introducing “The Braun Budget” — a balanced federal budget designed to bring expenses and revenue into balance over 10 years and make tax cuts permanent.
Under to Congressional Budget Act, if the Senate Budget Committee fails to report a budget resolution by April 15th, any senator can introduce their own budget and receive a vote on the senate floor. That vote is expected to come sometime this week.
“Record high gas prices. A 9.1% inflation pay cut. Every American is paying for the President Biden’s big spending agenda and D.C.’s budget dysfunction. Americans are tired of it, and it’s clear President Biden has no plan to deal with the inflation bomb he created. That’s why I’m introducing my own balanced budget that fights inflation and unleashes American prosperity,” said Braun.
The proposed budget balances expenses and revenues over 10 years and saves over $4.5 trillion — without raising taxes — by capping total spending and dialing it back to 17.5% of potential GDP (the 50-year rolling average of revenue, regardless of tax policy).
He said the budget also pulls back over $100 billion of the remaining American Rescue Plan Act funds not related to COVID.