WASHINGTON – U.S. Senator Roger Wicker, R-Miss., a member of the Senate Budget Committee, today voted in favor of the federal budget plan authored by Budget Chairman Mike Enzi, R-Wyo.

“This plan balances the budget in 10 years without raising taxes,” Wicker said. “It stands in stark contrast to the President’s budget, which does not come close to balancing.

“The measure also provides a mechanism to repeal and replace Obamacare. There is a better way to provide health care for Americans. Millions of Americans have had their co-pays, deductibles, or premiums increase despite the promises made by President Obama. This budget offers a way forward.

“Contrary to claims by Senate Democrats, the budget would not implement draconian non-defense spending cuts. Currently, the federal government spends 20.3 percent of GDP. Under this budget, that would go down to 19.4 percent of GDP. A slight decrease, but nothing like the savagery painted by those on the other side of the aisle.”

Wicker successfully added an amendment to the proposal that would require the nonpartisan Congressional Budget Office (CBO) to perform long-term estimates of the budgetary effects of major spending legislation.

“The true costs of legislation are frequently not understood in the 10-year window calculated by the CBO,” Wicker added. “Focusing exclusively on the short- and medium-term estimates of budgetary effects can encourage legislation that increases our long-term debt. Although CBO has occasionally provided supplementary information on the impacts of major legislation into the second decade, this information is not provided as a matter of course. We need to take an honest look at our country’s financial situation.”

For instance, Obamacare was originally projected to cut the national deficit by $118 billion between 2010-2019.  However, CBO’s latest baseline projection shows a net cost to the federal government of $1.207 trillion from 2016-2025.

The budget plan passed the committee by a vote of 12-10. It is expected to be considered by the full Senate next week.

Details of the Senate Budget Resolution for Fiscal Year 2016 include:

• Balancing the budget in 10 years by limiting spending growth, reaching a $3 billion surplus in the tenth year, and achieving $4.4 trillion more in deficit reduction than President Obama’s budget request.

• Making national defense a priority and providing for the maximum allowable defense funding under current law, including a fiscally responsible path for defense spending increases.

• Repealing the “Patient Protection and Affordable Care Act” and the health-care-related provisions of the “Health Care and Education Reconciliation Act of 2010.”

• Honoring the special off-budget status of Social Security.

• Protecting Medicare from insolvency and extending the life of the Medicare trust fund by five years. 

• Lowering the after-tax costs of investment, savings, and work.

• Reducing the costs to business and individuals from the Internal Revenue Code.

• Reducing the costs of federal regulations, including the costs incurred by individuals in complying with federal law when starting a business.

• Supporting increased oil and gas exploration and a robust energy infrastructure that will lower energy costs for consumers.