The Republican-led House will consider an updated budget resolution this year by Rep. Paul Ryan (R-WI), according to a Friday memo to GOP lawmakers by Majority Leader Eric Cantor (R-VA).
He said it will adhere to spending levels agreed to under the two-year Ryan-Murray budget deal — which means it’ll set fiscal 2015 spending at $1.014 trillion — and reach balance in a decade.
The Virginia Republican writes:
While the president’s budget blows past the spending limit previously agreed to, the House Republican budget, under the leadership of Chairman Paul Ryan, will adhere to the agreed upon spending limits and balance in ten years, as we did last year. Under the Bipartisan Budget Agreement, the current spending level for Fiscal Year 2015 is below the first budget House Republicans passed in 2011.
In addition to the Budget Resolution, I expect the House to consider three additional budget process reform bills to help reduce out of control spending and improve accountability and transparency to the taxpayer[.]
Ryan’s office confirmed the decision, but wouldn’t comment on timing.
The prospect of a renewed Ryan budget — a theoretical exercise as it probably won’t pass the Senate — has been up in the air, in large part because of divisions within the GOP conference with regard to spending levels.
Senate Democrats, by contrast, say they won’t attempt to pass a budget this year.