By Cong. Randy Neugebauer
And 2012 Farm Bill likely a cumbersome process
On Friday the nonpartisan Congressional Budget Office (CBO) published its report on the
Economic Impact of President Obamas Fiscal Year 2013 Budget. Every year the CBO analyzes the Presidents budget and projects what the federal budget would look like as a whole if those policies were implemented.
After reviewing CBOs report it is no wonder that not one member of the House of Representatives voted for the Presidents budget.
According to CBO the Presidents proposals would reduce economic output by between 0.5 and 2.2 after five years.
Taking economic efforts into account the CBO also reported that President Obamas budget could add $1.3 trillion to the deficit this year alone $1.0 trillion in 2013 and as much as $3.6 trillion in deficits by 2022.
The message is clear: we must stop spending money we do not have. We must reduce the size of government so that the private sector can grow which results in job creation.
House Republicans have passed a budget for FY 2013 that would reform the tax code and make sensible cuts to excessive government spending. I remain committed to making the hard choices our country faces to right our fiscal path.
2012 Farm Bill
The past week has been busy regarding the 2012 Farm Bill process. The House Agriculture Committee finished a series of field hearings on Friday and the Senate Agriculture Committee released their draft 2012 Farm Bill.
The House will now start another series of hearings on the major titles of the Farm Bill where prospective policies will be reviewed. These hearings will likely serve as the final chance for public input before the House Agriculture Committee writes its Farm Bill later this summer.
The Senate is scheduled to hold a markup on its version of the Farm bill later this week.
The 2012 Farm Bill will likely be a cumbersome process but I remain committed to ensuring we maintain policies that allow the agriculture industry in West Texas to thrive.
