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House Republicans' 2012 Budget

House Republicans' 2012 Budget

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Published by FOXBusiness.com

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Published by: FOXBusiness.com on Apr 05, 2011
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07/10/2013

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S
TATEMENT OF
C
ONSTITUTIONAL AND
L
EGAL
A
UTHORITY
Article I of the U.S. Constitution grants Congress the power to appropriate funds from the Treasury, pay theobligations of and raise revenue for the federal government, and publish statements and accounts of all financialtransactions.By law, Congress is also obligated to write a budget representing its plan to carry out these transactions in theforthcoming fiscal years. While the President is required to propose his administration’s budget requests forCongress’s consideration, Congress alone is responsible for writing the laws that raise revenues, appropriatefunds, and prioritize taxpayer dollars within an overall federal budget.The budget resolution is the only legislative vehicle that views government comprehensively. It provides theframework for the consideration of other legislation. Ultimately, a budget is much more than a series of numbers. It also serves as an expression of Congress’s principles, vision and philosophy of governing.This Budget Resolution for Fiscal Year 2012 intends to recommit the nation fully to the timeless principles of American government enshrined in the U.S. Constitution – liberty, limited government, and equality under therule of law. It seeks to guide policies by those principles, freeing the nation from the crushing burden of debt thatis now threatening its future.This budget is submitted, as prescribed by law, to apply these principles, reflect this vision, and provide aframework for the orderly execution of Congress’s constitutional duties for Fiscal Year 2012 and beyond.
House Budget Committee | April 5, 2011
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