Senator Mike Braun (R-Ind.) on Tuesday introduced “The Braun Budget” – a balanced federal budget designed to throw the brakes on out-of-control government spending, fight inflation by bringing expenses and revenue into balance over 10 years and unleash American prosperity by making the Trump tax cuts permanent.
Braun
Under the Congressional Budget Act, if the Senate Budget Committee fails to report a budget resolution by April 15, any Senator can introduce their own budget and receive a vote on the Senate floor.
That vote came this week. Braun’s proposal was defeated in a bipartisan 34-65 vote.
“Sadly,” Sen. Braun said, “the majority of the Senate voted to raise taxes, weaken our national security, and keep driving our nation into bankruptcy.”
Braun continued: “Record high gas prices. A 9.1 percent 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.”
The Braun Budget would have balanced expenses and revenues over 10 years and would have saved over $4.5 trillion – without raising taxes – by capping total spending and dialing it back to 17.5 percent of potential GDP (the 50-year rolling average of revenue, regardless of tax policy).
Sen. Braun’s budget would have provided for robust defense and would have extended the life of the Social Security and Medicare/Medicaid trust funds for the millions of seniors who rely on these programs for their health care. The Budget also pulled back over $100 billion of the remaining American Rescue Plan Act (ARPA) funds that Braun said had nothing to do with COVID in the first place and kicked off the inflation wave hurting American families.
Click here to read the bill.