Friday, U.S. Senator Mike Crapo, R-Idaho, a senior member of the Senate Finance Committee, voted against the adoption of S.Con.Res.5, the Fiscal Year (FY) 2021 Budget Resolution.
The proposed budget directs the Finance Committee, which has jurisdiction over major direct spending programs and all revenue and debt-limit legislation, to increase the deficit by a staggering $1.3 trillion, without even determining or deliberating what policies would have the biggest impact in growing our economy.
“Over the last year, Congress has come together multiple times to pass massive, bipartisan bills totaling trillions of dollars in relief measures to help American families and businesses weather the pandemic,” said Senator Crapo.
“I have been encouraged by this bipartisan approach, and recent economic projections from the Congressional Budget Office, which estimates that already-enacted pandemic-related provisions, built upon the strong fiscal policy foundation we already have in place, will provide a robust economic recovery, with growth of 3.7 percent over the course of 2021. It is disappointing that the new Senate Majority has decided to move forward with a budget resolution to quickly pass proposals that have failed to garner broad bipartisan support in the past, instead of focusing on policies that will boost vaccine distribution and help get people back to work and our kids safely back to school. Although this budget instructs the Senate Finance Committee to spend nearly $1.3 trillion, the reality is that the Committee will likely never debate nor vote on amendments. Rather, we will be asked to simply rubber-stamp partisan legislation passed in the House of Representatives.”
Crapo offered several amendments to the Budget Resolution related to tax relief and health care protections, including an amendment to permanently extend the lower tax rates for individuals and small businesses enacted as part of the Tax Cuts and Jobs Act of 2017 (the amendment was not agreed to on a party-line vote).
Crapo ultimately voted against the FY2021 Budget Resolution that the Senate passed by a partisan vote of 51 to 50, because it does not pave the way for fiscally responsible, bipartisan budgeting enabling targeted COVID relief and economic growth.
“As we have done in the past, Congress should be working together on targeted COVID relief for families affected by the pandemic, and pro-growth policies that will allow employers to reopen and rehire,” said Crapo.