D.C. Budget Cut Efforts & Blocking of Presidents Tax Increase

Presidents proposed $1.5 trillion tax increase blocked Spending cut by $6.2 trillion relative to his FY 2012 budget. Texas Insider Report: WASHINGTON D.C. Welcome to this weeks edition of the Leaders Lineup. The Leaders Lineup outlines Leader Eric Cantors activities under the Congresional Dome.  Heres what happened under the dome this week ... and why The House will not be in session next week.    Next Week:  Constituent Work Week (formerly known as Easter Break The House will not be in session next week; Members will be working in their districts during Constituent Work Week. The House will come back into session on Monday May 2nd. Last Week House Budget: On Friday the House passed H. Con. Res 34 the Concurrent Resolution on the Budget for Fiscal Year 2012 by a vote of 235-193. Over the next decade it cuts spending by $6.2 trillion relative to the Presidents FY 2012 budget. It blocks the Presidents proposed $1.5 trillion tax increase and brings the deficit below $1 trillion in FY 2012. The budget:

1. Returns non-security discretionary spending below pre-stimulus pre-bailout levels
2. Repeals the job-destroying health care laws enacted in the 111th Congress
3. Reduces debt by $4.7 trillion compared to levels in the Presidents budget
4. Provides framework for maintaining Medicare for todays seniors who need it while ensuring that the program is preserved to protect future generations as well and
5. Provides a spur to action to begin a bi-partisan process for ensuring the solvency of Social Security.

More information on the House budget can be found HERE. Cantors remarks on the Republican Budget can be seen HERE. Continuing Resolution: On Thursday the House passed the Department of Defense and Full-Year Continuing Appropriations Act (H.R. 1473) by a vote of 260-167. HR 1473 turns around the trajectory of Washingtons unsustainable spending binge best symbolized by the Democrats failed stimulus bill of 2009. By demonstrating that our political system is capable of reining in uncontrolled spending it sends a signal to job creators in the private sector that government will not continue to grow at a rate crowding out private investment and making tax increases inevitable. It also sets the table for reducing spending in the future. Removing nearly $40 billion in spending from the federal ledger in FY 2011 compounds to $315 billion in savings over the next decade compared to CBOs baseline projections for discretionary spending. A list of all the cuts may be viewed HERE. Health Care Repeal: On Wednesday the House passed H.R. 1217 by a vote of 236-183. This legislation would repeal the Prevention and Public Health Fund a new program included in ObamaCare. The program grants the Secretary of Health and Human Services unchecked authority to spend billions of taxpayer dollars on any so-called public health program without any further congressional action. These funds could be used to continue wasteful and duplicative programs that fail to actually improve health care for Americans. Cantors full statement can be seen HERE. Cantor On CNN: The Focus Should Be On Creating Jobs Not Raising Taxes

Its very ironic that a few days before tax day in this country the President would be coming out asking people to pay more taxes. I dont think many Americans believe thats the answer to how we fix this economy and grow jobs. You cant fix the problem that were facing by cuts alone. The challenge for us is how you grow the economy and we dont believe you grow the economy through raising taxes. Weve had that debate. We need small businesses to jump into the game to put their capital to work to create jobs. Thats what our focus should be about getting more Americans back to work. CNNs American Morning  

Cantor on Jobs & Economic Growth on Fox News On Thursday Cantor was on Fox News to discuss jobs and the economy. The Republican budget offers a specific plan to strengthen our insolvent entitlement programs implement pro-growth measures like fundamental tax reform to get our economy back on track and brighten the future for our children and grandchildren. Watch the interview HERE. Cantor talks Tax Reform and Simplification on Morning Joe"

What has happened in this town over the last several decades and both sides have been responsible for this so theres plenty of blame for that is they have succumbed to special interest pressure. There are industries sectors of this economy and individual companies that have benefitted from the pressure they place on this place. Its the ultimate in crony capitalism if you can gain an advantage in the system you will do it to benefit your shareholders. Right now we have to be for everybody. We have to be for the bulk of the American people who feel right now that they have been left out and dont have a fair shot in this game. Thats what were trying to do when we say broaden the tax base simplify the code and bring down rates. MSNBCs Morning Joe