United States Senate Committee On The Budget
Recent News About United States Senate Committee On The Budget
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CBO estimates $1.8 trillion deficit under Biden-Harris administration
The Congressional Budget Office (CBO) has reported that the deficit for Fiscal Year 2024 is estimated to reach $1.8 trillion. This figure is double what was projected when the Biden-Harris administration began its term. Senate Budget Committee Ranking Member Chuck Grassley expressed concern over this development.
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Grassley criticizes lack of transparency in Biden-Harris budget proposal
Ranking Member Chuck Grassley from Iowa has raised concerns over the Biden-Harris Administration's handling of its 2025 budget proposal, citing a lack of transparency that he claims is preventing the Congressional Budget Office (CBO) from conducting a complete analysis.
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CBO projects Biden-Harris Medicare policy may cost taxpayers over $21 billion
The Congressional Budget Office (CBO) has released its fiscal analysis of the Biden-Harris administration's Medicare Part D Premium Stabilization Demonstration Program. The report estimates that the program could cost taxpayers over $21 billion in three years if it proceeds as planned. This initiative, launched by the Centers for Medicare & Medicaid Services (CMS), aims to reduce seniors' premiums, which have increased due to previous policy changes.
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Grassley emphasizes oversight in addressing rising housing costs
Senator Chuck Grassley has emphasized the need for continued oversight to address housing affordability issues in a recent statement. He highlighted the impact of inflation on housing prices, attributing a significant rise to the current administration's policies.
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Grassley calls for bipartisan approach to social security reform amid looming insolvency concerns
Senator Chuck Grassley of Iowa, the Ranking Member of the Senate Budget Committee, delivered an opening statement at a hearing titled "Social Security Forever: Delivering Benefits and Protecting Retirement Security" on September 11, 2024. Grassley began by acknowledging the 23rd anniversary of the 9/11 attacks, emphasizing the importance of remembering those who lost their lives and honoring first responders.
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Grassley, Arrington request CBO analysis of Medicare cost-shifting policy
Senate Budget Committee Ranking Member Chuck Grassley (R-Iowa) and House Budget Committee Chairman Jodey Arrington (R-Texas) are requesting an analysis from the Congressional Budget Office (CBO) on a new demonstration program initiated by the Biden-Harris administration. This program aims to lower Medicare Part D premium payments using taxpayer funds. Known as the Premium Stabilization Demonstration Program, it was introduced in response to the Inflation Reduction Act (IRA), which has led insurers to increase premiums for seniors and reduce plan options.
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Grassley raises concerns over rapid transition to electric vehicles
Senator Chuck Grassley voiced his concerns regarding the rapid transition to electric vehicles (EVs) during a recent Senate Budget Committee hearing. Grassley highlighted several issues, including economic challenges and reliance on critical minerals.
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CBO Director testifies before Senate Budget Committee after four-year hiatus
At the request of Ranking Member Chuck Grassley (R-Iowa), the Senate Budget Committee hosted Phillip Swagel, director of the nonpartisan Congressional Budget Office (CBO), to testify on the 10-year budget and economic outlook. This marks the first testimony from a CBO Director before the committee since the 116th Congress.
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CBO director highlights risks of high interest rates on federal policy
Senate Budget Committee Ranking Member Chuck Grassley (R-Iowa) questioned Congressional Budget Office (CBO) Director Phillip Swagel on the implications of high interest rates, tax proposals, and the Biden administration’s regulatory agenda.
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CBO projects national debt reaching record share of GDP in three years
Senate Budget Committee Ranking Member Chuck Grassley (R-Iowa) issued a statement on the Congressional Budget Office's (CBO) new 10-year budget and economic outlook. "Congressional Democrats and the White House ought to read this report cover to cover. After reviewing the data, it’d be unthinkable for anyone to consider continuing down the current fiscal path," Grassley said. "The Biden administration has saddled generations of Americans with inflationary conditions and astronomical interest rates. The CBO’s long-term outlook leaves Washington bureaucrats with one viable...
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Grassley criticizes partisan approach in Senate hearing on tax loopholes
Senator Chuck Grassley delivered opening remarks on June 12, 2024, addressing tax loopholes during a Senate Budget Committee hearing. Grassley expressed initial optimism about the hearing's focus on federal revenues but criticized its political orientation.
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Grassley calls for addressing national debt amid rising interest rates
Senator Chuck Grassley of Iowa, the Ranking Member of the Senate Budget Committee, emphasized the urgency of addressing the nation's $34.5 trillion debt and rising interest rates during a hearing titled “Riskier Business: How Climate is Already Challenging Insurance Markets” on June 5, 2024.
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Grassley addresses storm impact in Iowa; emphasizes science over activism in climate debate
Senator Chuck Grassley addressed the Senate Budget Committee on May 22, 2024, expressing his solidarity with the people of Greenfield, Iowa, following a recent storm that caused significant destruction. "If you were watching morning television that’s national, you would have seen it on television this very morning," Grassley remarked. He extended his thoughts to those affected in Adair County and commended first responders for their efforts.
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Grassley highlights national debt as greater threat than climate change
Senator Charles Grassley of Iowa, the Ranking Member of the Senate Budget Committee, delivered an opening statement on May 15, 2024, during a hearing titled "Budgeting for the Storm: Climate Change and the Costs to National Security." The Senator highlighted that this was the committee's 17th hearing on climate change in Congress but the first to address national security.
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Senator Chuck Grassley Advocates for Healthcare Cost Reduction and Efficiency
Senator Chuck Grassley of Iowa presented his views on the reduction of administrative burdens, improvement of patient access, and lowering taxpayer costs in healthcare during a hearing on May 8, 2024. Grassley emphasized the need to address the escalating healthcare costs and their impact on the country's fiscal outlook.
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Wall Street Journal Sides with Iowans: The Budget Committee Ought to Focus on the Budget
Washington, May 2, 2024 - The Wall Street Journal has echoed the concerns raised by Iowans at Sen. Chuck Grassley's 99 county meetings regarding the nation's budgetary crisis. The Journal highlighted the frustration felt by Iowans towards the Senate Budget Committee's Democrat majority for not prioritizing budgetary reform.In a recent column by the Wall Street Journal's James Freeman, Chairman Sheldon Whitehouse's approach was criticized for diverting attention from crucial budgetary matters, with a focus on climate issues instead. Freeman questioned the missed...
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Grassley Expresses Disappointment at Big Oil Budget Hearing
Senator Grassley expressed his disappointment at the Budget Committee hearing on Big Oil, stating, "I want to start by airing some disappointments I have regarding the process of this hearing and underlying documents." Grassley criticized the majority for their lack of transparency in working with House Democrats on a report, noting, "The majority failed to inform the minority they were working with House Democrats on a report."Grassley reiterated his belief that the Budget Committee should focus on fiscal matters, saying, "As I’ve said in the previous 15 hearings, the...
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What They Are Saying: Washington Wakes Up to Senate Budget Republicans’ Case for Fiscal Focus
Washington – The Senate Budget Committee Republicans have been making waves in Washington with their push for a renewed focus on fiscal matters. The committee, under Democratic leadership, has been criticized for prioritizing climate issues over budget concerns. Republicans have been vocal in their stance that the committee should address budget-related issues."The Republicans for their part hold the quaint position that the Budget Committee should address the budget." This sentiment was echoed by The Wall Street Journal, questioning the emphasis on climate policy over...
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Grassley Provides Insight on Efforts to Snuff Out Tax Evasion
Senator Grassley recently provided valuable insights on the ongoing efforts to combat tax evasion, particularly focusing on offshore tax evasion. Speaking at a hearing, Senator Grassley reflected on past endeavors to tackle tax gaps and offshore evasion, highlighting the challenges and successes in this area.Regarding offshore tax evasion, Senator Grassley emphasized the importance of shutting down egregious practices to protect honest taxpayers. He noted, "Those engaged in tax evasion aren’t only shortchanging the federal government, but stealing from the American...
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Grassley Leads GOP Call For Budget Committee To Address Fiscal Policy
Ranking Member Chuck Grassley and eight Senate Budget Committee Republicans have urged Chairman Sheldon Whitehouse and majority committee members to focus on fiscal matters, redirecting the committee's attention from climate change to constructing a sound budget. Grassley and his colleagues emphasized the need for the Budget Committee to prioritize the nation's fiscal health, stating, "Our constituents deserve a Budget Committee that works diligently to find common ground on ways to put our nation on a sustainable fiscal path, rather than preening for the cameras."The...