▶ 0:00:54Roy program in the country you ready to yeah yeah I ran for my Whit CU of course even though we told times I leave at 9950 they went right up until the committee will come to order welcome good morning we will make this uh as quick and painless as any committee meeting we'll have this year but probably the only quick and painless meeting but I got to say I'm very proud of this committee on both sides of the AL for the
▶ 0:01:24professionalism uh for the civility mutual respect I mean we disagree on a number of things and sometimes vehemently and we have great robust debate but uh but we conduct ourselves in a way that I think reflects the very best of the American people and that that means a lot in this town not just to me it's not easy to do but you guys do it every uh you did it throughout the last Congress and uh I want to speak to
▶ 0:01:54some of the things that I'm very proud of what we've been able to accomplish I think as a result of that frankly but the purpose of the meeting today is uh it's an organizational meeting to formally ratify our committee membership we have some new members on both sides you'll introduce your colleagues and I'll introduce uh the Republican colleagues and then we'll adopt the committee rules and oversight plan for the 119th Congress which has to cut to the chase
▶ 0:02:24no substantive changes uh to um so uh Mr ranking member I I'm just going to launch into a few opening uh comments and then I'm going to ask you two and then we'll get on with the business of today so when I say I'm proud of what we've been able to do collectively um you know you do there's some things that we all will do because we believe in our hearts and with the deepest of personal convictions
▶ 0:02:54that they must be done whether they're done as a in a bip partisan uh uh way or if we have to do it sort of alone as one caucus or another and I think both sides have demonstrated that but I I believe also strongly that when we can work together when we can find Common Ground I think that's a much more sustainable proposition for the country and thanks to
▶ 0:03:25uh my friend who happens to be my ranking member Brenan Bole and his commitment and my Democrat colleagues and Republican colleagues we've done a lot they've been nickels and dimes as I would call them in West Texas not the big uh dollar uh changes but the nickels and dimes add up on making the budget process which is completely dysfunctional but as Tom McLintock my good friend would say it's the fault
▶ 0:03:55is not in Our Stars it's in ourselves so maybe the function lies within I think Shakespeare said it first all when you with in all modesty with Shakespeare well when you hear Tom mclin talk enough you start to get a sense of The Shakespearean Spirit um but nevertheless we were able to pass 17 bills out of this committee more in
▶ 0:04:25one Congress which is more than any Congress from this commit Committee in the history of its formation in 1974 and 11 of the 17 were done together collectively we said this will make the process more accountable make us more responsible and the outcomes better for the country as a result and uh Mr Bole you had one that you led where I was in a support role that became law where we
▶ 0:04:56give CBO greater access to data and they can't be expected to do a good job on accurate projections if they don't have good data so you helped in that endeavor and then Glenn growman got his first bill passed not only on the house floor but signed into law and um and that was going to reduce the unnecessary and burdensome reports that uh uh have no meaningful effect other than
▶ 0:05:26to cost people to waste time and taxpayer money but we did it together so my call to you all as we look ahead is yes there will be things we will do like we did our 10year balance budget resolution we will probably end up doing that uh as a partisan effort but I hope that we can continue to work on on fixing the broken budget process together um I think there's more work to be done there
▶ 0:05:56secondly we have to continue sounding the alarm for the American people that this country and their government is on a completely unsustainable path now I may have one way to address it you may have another but at the end of the day we have to do something and quite frankly Jimmy Panetta you know this better than anybody some of those things will require both sides to work together uh or they won't get done and there will be real pain
▶ 0:06:27and serious consequences and I'm talking about Medicare Social Security that are already on a Glide path to so I'm excited about the year and two ahead in this Congress in the 119th um I'm excited personally about advancing uh our new president's America First agenda uh but I'm also excited to continue to advance the policies and priorities that we've established
▶ 0:06:57and our reverse the curse balance budget blueprint which essentially is to restore fiscal responsibility and Sanity to Washington to unleash Prosperity through economic freedom and to make sure that taxpayers dollars their sacred hard-earned dollars are stewarded as if they were our money and our children's money in their piggy bank because that $2 trillion annual deficit both sides have contributed
▶ 0:07:28to that will double over the next 10 years that deficit that is now at 7% to GDP which we haven't seen as Scott bassent said in only in war times only in depression only in pandemics but we're seeing it in relative peace and prosperity we have to uh get get control of this and and we have to put this country on a sustainable path so we can ensure our children inherit the blessings
▶ 0:07:58of liberty and and prosperity and all the blessings of the American promise that we that we've enjoyed um last last lastly I want to introduce our new members Marlon stutsman from Indiana he's no stranger to uh this committee or to Congress um this is second tour of Duties on Financial Services Marlon welcome proud to serve with you and glad you're here Jay oeli uh Jay oel is on Energy and Commerce Jay raise your hand
▶ 0:08:28wave to uh he is also chair of the house task force on AI we think AI can contribute to productivity economic uh gains but also uh AI can help us identify waste and fraud um but then again we have to take action when we have identified it Jay thank you for your willingness to serve Mike carrye is here from ways and means I don't know that uh he's made it but uh he's a ways
▶ 0:08:58and means representative Andrew Clyde appropriator combat veteran from Georgia Aaron hin uh my friend from the Hooser State uh who is serving as a rules committee appointee Aaron welcome thanks for your willingness to serve Addison McDow who's no stranger to Capitol Hill and has racked up many years in public service but now he's on the elected official side so um
▶ 0:09:29well welcome to the dark side uh Addison um Brandon my freedom fighting God-fearing friend from the great state of Texas who is also the president of his freshman class so Brandon thanks for your willingness serve and Tim more the speaker former Speaker of the House of North Carolina Tim more wave to everybody thank you for your willingness to serve you know states have to do budgets and they have to balance so you might have to take a strong shot of something before you come in and out of this committee
▶ 0:09:59to recognize that that that Dynamic doesn't uh exist here at the moment but you're going to change that with that uh ranking member take it away well thank you uh Mr chairman and before I begin I I'd also like to introduce uh the new members of the committee on the Democratic side uh first Bonnie Watson Bonnie Watson Coleman uh of New Jersey uh she and I came in to the Congress together a decade ago and will be a great member of this committee Stacy plaset
▶ 0:10:29uh also a classmate of mine uh she is new to us this term although she has served on the budget Committee in the recent past Veronica Escobar of the great state of Texas Marcy capter um who is um returning having served on the budget committee not last term or the term before but having served on the budget committee 10 years ago and obviously is a passionate Fighter for working Americans from Toledo Ohio Sim SAR to Marcy
▶ 0:11:00Paul tono of uh New York there we go uh Paul tono of New York who's also returning having served on this committee as recently as the 112th uh Congress which was a decade ago uh from upstate New York or the Albany area and then two uh newer members both to the committee as well as uh to Congress Morgan McGarvey from Louisville Kentucky hopefully I slurred that enough that I say it like I fit aille um he represents the
▶ 0:11:30district that our great former chairman John Yarmouth uh used to represent in the Congress and then finally uh Gabe Amo of Rhode Island one of the real rising stars in the House of Representatives and uh just great I thank all of the the new members to this committee uh as well as to the returning uh members as as well and I want to personally thank you Jody uh Mr chairman you know we sat here exactly two years ago and both spoke
▶ 0:12:00about striking a tone of Civility and seriousness when it comes to this committee and uh even when we've had disagreements I can honestly say that we upheld that as did every member of this committee I in fact I said two years ago that you know there are certain committees in Congress that the performance artists just love to be on this isn't one of them we're going to do serious work and we did that and the fact
▶ 0:12:30that 177 bills passed out of this committee we had not had one bill pass out of this Committee in decades um and then here we are able to pass 17 and 11 of them were supported uh on the Democratic side of the of the Das you know bipartisanship is a two-way street and when the majority is willing to work with us um they will see that uh you have a willingness on this side to achieve bipartisanship we will on principle fight
▶ 0:13:00on those areas where we cannot agree and that's exactly what we should be doing but there are areas where we can agree and make a a positive difference and I appreciate his support of my bill the CBO data sharing act that will make the Congressional budget office um better at their jobs so that they can serve Congress and get us the accurate data and that's just one of the 11 uh pieces of legislation that passed out of this committee and was UL timately uh you know as was mentioned ultimately
▶ 0:13:31got over the finish line I will say uh specifically on debt we'll have a lot of time to get into this in the weeks and months and the two years ahead the chairman has spoken genuinely because I know it's coming from a sincerely held view in a genuine place that um aric de is a ticking Time Bomb um and I know he's sincere about it I have to say and I've made this observation before that a lot of uh my friends on the other
▶ 0:14:01side of the aisle talk passionately about deficit in debt when there's a democrat in the white house then suddenly when the occupant of 1600 Pennsylvania Avenue switches the focus gets on the tax cuts and you don't hear as much as deficit about deficit and debt I certainly hope that pattern that I've seen repeatedly over the last several decades does not follow this time because as I mentioned here before while I'm not a
▶ 0:14:32debt alarmist I don't think we're suddenly going to see a run on our debt tomorrow the projections in the medium term are frightening I'll never forget that when we had former Senator Mitt Romney uh here um at a hearing that we held this past year he recited the old line that when someone um went into to debt and went bankrupt they asked him how did it happen and he said slowly at first and then all at once
▶ 0:15:02well when you look at those projections for the next decade which by the way we're now only 5 years away from hitting when you look at those projections and then you add $4.6 trillion doll of new debt on top of it which is what the extension of the tcja would cost we're getting closer and closer to that day where it was all at once we've had Moody's and others talk about the movement that we're seeing on a daily basis the 10-year bond market if
▶ 0:15:32we were to see a run on our debt and suddenly yields and interest rates go from 4% to 14 and Beyond that's where it would start to happen so I hope that this is a term that all of us really take the debt issue seriously before it's too late and as you know my friend um you will have a a sincere partner in me and those of us on that side of the aisle uh so that we can leave a a
▶ 0:16:02better country for our children and our grandchildren and with that I'll yo back I thank the ranking member and uh we tell you with every fiber of my being and I know my colleagues uh my Republican colleagues will share this sentiment we will do everything in our power to live up and and practice to what we've committed to rhetorically uh which that consistency on both sides uh is is a
▶ 0:16:32rare thing but that is certainly what this committee strives for and will'll continue to uh into this Congress uh thank you Mr Bole um we meet to consider the committee's rules of procedures and the committee's oversight plan the proposed rules and oversight plan have been shared with all members of the committee my understanding is that the minority has no objections to the committee rules or oversight plan the committee's rules set out its proced edures which must be consistent with the house rules and the
▶ 0:17:02committee's oversight plan outlines proposed activities for this Congress we will now proceed to the consideration of committee rules for adoption these rules are essentially the same rules as the committee has operated as I mentioned under the past under both Republican and Democrat majorities there are a few technical changes intended to conform to our committee's uh rules with the rules of the House of represent resentatives at at this time I'd like to recognize the gentleman from
▶ 0:17:32Pennsylvania Mr smucker thank you Mr chairman I ask you now consent Mark is sorry before let me turn this on thank you Mr chairman I ask unanimous consent that the markup document is considered red and open for Amendment at any point before I respond to that and for the record happy birthday Lloyd smucker can't believe believe it's 39 years already you look amazing even at
▶ 0:18:0339 uh without objection the request is agreed to committee will now proceed to the consideration of the rules committee or of the committee rules rather my understanding is that we have no amendments so like to move to the adoption of the committee's rules um again I now recognize the gentleman from Pennsylvania Mr smucker for the purposes of offering the necessary motions to adopt the committee rules Mr chairman I move that committee adopt the Chairman's Mark as the rules of the committee on the the budget for the 119th Congress the question is on the motion offered by the gentleman from Pennsylvania
▶ 0:18:33all those in favor say I I those oppose no in the opinion of the chair the eyes have it the committee rules are adopted I'd like to make uh an announcement at this time because it's required by house rules the committee rules contain a provision of the long discussed practice of holding regular meetings on the second Wednesday of each month the committee's notice pursuant to committee rule three that all regular meetings for the under 19th are cancelled members will be notified for additional and special meetings as is our customary
▶ 0:19:05practice not sure I even understood that but uh um did did I just cancel all future meetings I mean are we just like done for the congress Gary um there will be no follow-up questions uh after I um the committee will now consider the oversight plan for the 119th Congress under both house and committee rules the budget committee is required to adopt an oversight plan by March 1st the plan before the committee is shared with minority summarize the areas in which
▶ 0:19:35the budget committee has oversight the plan also States the committee will exercise its oversight responsibility over the Congressional budget office the committee plans to hold a series of hearings on important budget related matters very similar what the committee has done traditionally again with both um Democrat and Republican majorities i' like to emphasize that this schedule is not binding and therefore does not preclude the committee from holding hearings on other topics as needed and as needs arise and circumstances change
▶ 0:20:06um my understanding is that we have no amendments at this time I'd like to recognize gentleman from Pennsylvania Mr smucker Mr chairman I ask unanimous consent that the oversight plan is considered Red without objection the oversight plan is considered red I recognize the gentleman from Pennsylvania Mr bucker for the purpose of offering the necessary motion to adopt the oversight plan Mr chairman I move that committee adopt the Chairman's Mark as the oversight plan for the committee on the budget for the 119th call questions on the motion offered by the gentleman from Pennsylvania all those in favor say I I those oppose
▶ 0:20:36no in the opinion of the chair the eyes have at the oversight plan is adopted I ask unanimous consent that the committee be authorized to issue and print copies of the compilations of laws and rules related to the Congressional budget process without objection so ordered I recognize the gentleman from Pennsylvania Mr smucker Mr chairman I ask unanimous consent that the staff be authorized to make technical conforming or sty istic changes to the committee rules and oversight plan the rules of the committee and the budget be issued as a committee print the chairman be authorized
▶ 0:21:06to submit the rules for printing in the Congressional Record within 30 days and the chairman be authorized to submit the oversight plan to the Committees on house administration and oversight and reform without objection so ordered um this concludes the item of business on the agenda for the committee's organizational meeting while it may have sounded like I canceled every meeting I I that that will pend on further considerations by the chairman um with that the committee as a Jour
▶ 0:21:36we look forward to working uh with everybody and having a great Congress God Bless America