A Good Faith Negotiation
The U.S. House of Representatives recently wrapped up its legislative activity before heading into the August work period, and I am proud to report that lawmakers ended on a high note with passage of the Bipartisan Budget Act of 2019. I am encouraged that lawmakers worked together to provide certainty and stability for the American people, and I am hopeful for swift passage of the legislation in the Senate.
Just as its name suggests, the Bipartisan Budget Act of 2019 is indeed a bipartisan product. While no one will claim the legislation is perfect, it represents a true compromise achieved as a result of the good faith negotiation between President Donald Trump and leaders in both chambers of Congress. The two-year budget agreement addresses several areas of concern related to the nation’s debt and government funding.
First, the agreement avoids the terrible consequences of defaulting on the national debt, which would lead to extreme economic chaos for American markets. And in setting new budgetary levels for fiscal years 2020 and 2021, the Bipartisan Budget Act also prevents the automatic discretionary spending cuts set to take place across the board in October due to sequestration. With funding levels in place, the agreement gives Congress the ability to proceed with confidence and clarity in the appropriations process for the coming fiscal year. Finally, it resumes the process of rebuilding our military after years of underfunding caused a severe readiness crisis.
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