Fiscal policy should not be determined by political brinksmanship. Instead, we should use the normal budget order to determine our fiscal priorities. A balanced approach is the only solution to our challenges. We should combine targeted spending reductions with strategic revenues from reducing tax loopholes. An all-cuts approach hurts key priorities like education and national defense, hampering our economic recovery. As we negotiate a solution to our budget challenges, everything must be on the table, including spending cuts, revenues and entitlement reforms. I am committed to finding common ground on reforms and adjustments that strengthen the economy over the long-run.
Since taking office, I have done everything I can to address the non-strategic sequester cuts that have been hurting our national security and economy. The world is a very different place now than it was in 2011 when the Budget Control Act passed, and we need to adjust our budget policies to respond to today’s challenges - from the rise of ISIL to increasing cyber attacks.
As a member of the Senate Budget Committee, I’m proud to have helped Congress pass two-year budgets in 2013 and 2015 that offset the worst effects of sequestration. I came to the Senate a strong supporter of two-year budgeting due to my experience as Governor and it is good to see others in Congress finally embracing this helpful reform. Looking ahead, I believe that rigorous debate and compromise are essential to putting our nation on a sustainable fiscal path and protecting the investments that are critical to our future.
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