“ The following reforms are proposed in this concurrent resolution for nonmeans-tested direct spending: (A) For Medicare, this budget advances policies to put seniors, not the Federal Government, in control of their health care decisions. Those in or near retirement will see no changes, while future retirees would be given a choice of private plans competing alongside the traditional fee-for-service Medicare program. Medicare would provide a premium-support payment either to pay for or offset the premium of the plan chosen by the senior, depending on the plan’s cost. ”

“ Medicare spending is growing faster than the economy and Medicare outlays are currently rising at a rate of 6.2 percent per year, and under the Congressional Budget Office’s alternative fiscal scenario, direct spending on Medicare is projected to exceed 7 percent of GDP by 2040 and reach 13 percent of GDP by 2085. ”

“ Published tuition and fees for in-State students at private four-year colleges and universities increased at an average rate of 2.6 percent per year beyond the rate of general inflation. (4) Over that same period, Federal financial aid has increased 140 percent beyond the rate of general inflation. (5) This spending has failed to make college more affordable. (6) In his 2012 State of the Union Address, President Obama noted that, “We can’t just keep subsidizing skyrocketing tuition; we’ll run out of money.” (7) American students are chasing ever-increasing tuition with ever-increasing debt. ”

“ The recession and continued low economic growth have exacerbated the looming fiscal crisis facing Social Security. The most recent CBO projections find that Social Security will run cash deficits of $1.319 trillion over the next 10 years. (4) Lower-income Americans rely on Social Security for a larger proportion of their retirement income. Therefore, reforms should take into consideration the need to protect lower-income Americans’ retirement security. (5) The Disability Insurance program provides an essential income safety net for those with disabilities and their families. ”

“ Costs of Federal housing loans and loan guarantees are treated unequally in the budget. The Congressional Budget Office uses fair-value accounting to measure the costs of Fannie Mae and Freddie Mac , but determines the cost of other Federal housing programs on the basis of the Federal Credit Reform Act of 1990 ( “FCRA” ) . (2) The fair-value accounting method uses discount rates which incorporate the risk inherent to the type of liability being estimated in addition to Treasury discount rates of the proper maturity length. ”

“ Putting seniors in charge of how their health care dollars are spent will force providers to compete against each other on price and quality. This market competition will act as a real check on widespread waste and skyrocketing health care costs. (B) In keeping with a recommendation from the National Commission on Fiscal Responsibility and Reform, this budget calls for Federal employees—including Members of Congress and congressional staff—to make greater contributions toward their own retirement. Title VI— Budget Enforcement ”

“ Standard economic theory shows that high marginal tax rates dampen the incentives to work, save, and invest, which reduces economic output and job creation. Lower economic output, in turn, mutes the intended revenue gain from higher marginal tax rates. ”

“ Medicare spending is put on a sustainable path and the Medicare program becomes solvent over the long-term. Sec. 704. Policy statement on Social Security
(a) Findings– The House finds the following:
(1) More than 55 million retirees, individuals with disabilities, and survivors depend on Social Security. Since enactment, Social Security has served as a vital leg on the “three-legged stool” of retirement security, which includes employer provided pensions as well as personal savings. ”

“ During the recession and early stages of recovery, the Government took a variety of measures to try to boost economic activity. Despite the fact that these stimulus measures added over $1 trillion to the debt, the economy continues to perform at a sub-par trend. ”

“ The Federal Government spends about $80 billion each year for information technology. GAO has identified broad acquisition failures, waste, and unnecessary duplication in the Government’s information technology infrastructure. Experts have estimated that eliminating these problems could save 25 percent – or $20 billion – of the Government’s annual information technology budget. ”

“ This resolution targets the regulatory red tape and cronyism that stack the deck in favor of special interests. All of the reforms in this resolution serve as means to the larger end of growing the economy and expanding opportunity for all Americans. ”

“ These tax preferences are disproportionately used by upper-income individuals. For instance, the top 1 percent of taxpayers reap about 3 times as much benefit from special tax credits and deductions (excluding refundable credits) than the middle class and 13 times as much benefit than the lowest income quintile. (4) The large amount of tax preferences that pervade the code end up narrowing the tax base by as much as 50 percent. A narrow tax base, in turn, requires much higher tax rates to raise a given amount of revenue. ”

“ If this program is not reformed, families who rely on the lifeline that disability benefits provide will face benefit cuts of up to 25 percent in 2016, devastating individuals who need assistance the most. (7) Americans deserve action by the President , the House , and the Senate to preserve and strengthen Social Security. It is critical that bipartisan action be taken to address the looming insolvency of Social Security. ”

“ Reforming the U.S. tax code to a more competitive international system would boost the competitiveness of U.S. companies operating abroad and it would also greatly reduce tax avoidance. (12) The tax code imposes costs on American workers through lower wages, on consumers in higher prices, and on investors in diminished returns. ”

“ Many of the major changes over the years have involved carving out special preferences, exclusions, or deductions for various activities or groups. These loopholes add up to more than $1 trillion per year and make the code unfair, inefficient, and very complex. ”

“ The Medicare premium-support payment would be adjusted so that the sick would receive higher payments if their conditions worsened; lower-income seniors would receive additional assistance to help cover out-of-pocket costs; and wealthier seniors would assume responsibility for a greater share of their premiums. ”

“ Outlays, $621,480,000,000. Fiscal year 2019: (A) New budget authority, $679,457,000,000. (B) Outlays, $679,661,000,000. Fiscal year 2020: (A) New budget authority, $723,313,000,000. (B) Outlays, $723,481,000,000. Fiscal year 2021: (A) New budget authority, $770,764,000,000. (B) Outlays, $771,261,000,000. Fiscal year 2022: (A) New budget authority, $845,828,000,000. (B) Outlays, $843,504,000,000. Fiscal year 2023: (A) New budget authority, $875,417,000,000. (B) Outlays, $874,988,000,000. (13) Income Security (600) : Fiscal year 2014: (A) New budget authority, $509,418,000,000. ”