Call to order this session of the Senate Budget committee. Good morning and welcome to our first day of the Senate BudgetCommittee Markup of the concurrent resolution on the budget for fiscal year 2018. Which is focused on growing americas economy through tax policies that put more money in the hands of hard working americans. Before we begin, id like to take a moment to remember one of our former colleagues and a former member former chairman of this committee who recently passed away. New mexico senator. He was a true fiscal conservative who consistently pulled members of both parties together to reach consensus on the budget including two balance budget agreements in the 1990s. I know we all appreciate his service and sacrifice as a member of this great committee. This budget resolution begins the senates process of pursuing long overdue tax reform that will jump start Economic Growth. It starts with creating the fiscal framework to eliminate the stifling tax policies that are Holding Back Investment and american productivity. The Senate FinanceCommittee Chairman have promised that the tax reform legislation will move through the committee process. This will provide members of the committee the opportunity to offer amendments before the full senate considering the legislation. Once the bill moves to the floor of the senate, every member will be able to contribute and offer amendments before voting on the measure. As the first account to chair the Senate Budget committee im proud that congress and the president are tackling this important issue. Our nation needs a simpler, fairer and more transparent tax system that will leave more dollars in the pockets of working families. The left Time Congress was able to accomplish large scale tax reform was in 1986. Much has changed in the country and the world in those 31 years including our tax code. Reforms enacted in 1986 have become steadily and ridiculously complicated, woefully inefficient and distressingly unfair. Indeed our current tax system actually benefits foreign based companies while harming u. S. Headquartered companies and employers. And we continually ask why jobs are leaving this country. A big reason is this hostile tax landscape. This budget aims to help reverse this trend by putting in motion a process for pro growth reform that will cut taxes on American Families and job creators by a net 1. 5 trillion over ten years n. Addition to keeping more money in the pockets of hard working taxpayers, such reform done right will spur investment and reinvigorate productivity here at home. Pro growth tax reform should reward hard work, saving and investment. It should seek to broaden the tax base while lowering marginal tax rates. To streamline our tax laws and to limit government distortion of market based decisions. Our tax policy should provide for a competitive tax rate and an International Tax system that does not penalize u. S. Companies. Tax policies influence the everyday and cents decisions of individuals and Small Businesses. They help drive decisions like whether to work an additional hour, invest an additional unit of capital. The joint committee on taxation states, quote, tax policy can directly influence the level of labor supply, physical capital, human capital, and technology in an economy by changing the after tax returns to certain Economic Activities or changing the cost of pursuing such activities. End quote. As such the joint committee has consistently shown potential Economic Growth when scoring past tax measures. Pro growth reform that removes government distortions of the marketplace would allow for resources to be reallocated toward their highest economic use. Instead of the use that produces the best tax outcome. This efficiency will lead to increased investment, growth of businesses and High Economic output or gdp. In fact increasing gdp from private sector growth provides additional dollars to the treasury. Let me repeat that. Better tax policy will boost the value of everything we produce and this will mean more revenue for the federal government. According to the Congressional Budget Office, a 1 10th of 1 could reduce the def set by 273 billion over a ten year period. A return would decrease projected deficits by over 2 trillion in the ten year window. More than sufficient to pay for the decrease in revenues assumed under scoring conventions that do not fully account for Economic Growth. While the fiscal year 20 Senate Budget is first and foremost about reforming the tax code, its also a serious fiscal plan. If congress and the administration can adhere to this budget blueprint, we will be on a better fiscal track with the combination of restrained spending, reduced tax burden s s a growing economy. Were presenting a way forward with the goal of creating a more effective, efficient and Accountable Government toch. To accomplish the budget propose a savings over the next ten years all while investing in a Strong National defense providing for the care of our most vulnerable citizens and not touching Social Security. This budget honors the special off budget status of Social Security and as such from the start was focused on achieving the balanced budget at the end of the ten year window. By 2026 the resolution with ensuing Economic Growth from tax reform reduced spending and an improved regulatory landscape would generate a 79 billion on budget surplus. That would grow to 127 billion by 2027. It propose this is resolution continues bipartisan efforts to respond to concerns about the broken budget process. This plan takes important steps to curtail budget gimmicks, increase honesty, and accuracy by government scorekeepers and end the spend now, pay later mentality of washington. This budget serves as the framework to expand Economic Opportunity for each and every american. It reflects our belief in the american entrepreneurial spirit and by allowing American Families and Small Businesses to keep more of their hard earned dollars they will innovate and invest that money in ways that will grow our economy. We believe our nations best days and those of its citizens are ahead of us. The time to act is now. If we dont change course, our nation will continue to experience the sluggish Economic Growth of the last decade. I urge my colleagues from both sides of the aisle to support americas hard working families and help get our nation on not just another course but a better course. And improving this budget focused on pro growth tax reform does just that. Now ill turn it over to Ranking Member senator sanders for his opening statement. Thank you very much, mr. Chairman. Let me begin by echoing your words about the senator and what an excellent senator he was. And also let me thank you for doing what no other proves Budget Committee chairman has done. You and your staff have released your budget resolution five days prior to our markup. We think thats an alltime worlds record. And i appreciate that very much. Mr. Chairman, at a time when the American People are dealing with the horrible mass murder in las vegas, were dealing with the incredible destruction that has taken place in texas, florida, puerto rico, and the Virgin Islands because of the recent hurricanes, people are asking wrong . What else do we have to worry about . And i am very sorry to have to inform the American People that they do have Something Else to worry about. And that is that this republican budget, the budget were dealing with today s in my view the most unfair and destructive budget in the modern history of our country. And if it were to be passed, and we all on this side of the aisle are going to do everything to see that it is not passed in its current form, it would be harm to tens of millions of working class and middle class families. In almost every instance, this budget ignores the needs of ordinary americans and what the American People want while at the same time it bends over backwards to protect the interest of the wealthiest and most powerful people in this country and the Largest Campaign contributors. This is a budget that moves our country rapidly into the direction of oligarchy. It transfers from the sick and poor to the top 1 . It is the robin hood principle in reseverse. It takes from those in need and gives who those who are already living in incredible opulence. Many americans thought we ended the republican effort to throw millions of people off the Health Insurance they have when we defeated just a week ago the last effort to repeal the Affordable Care act. Unfortunately, if you believe that, you are wrong. The republican attempt to destroy Health Care Benefits for millions of americans continues right in this budget document. This republican budget cuts medicaid by more than 1 trillion over a ten year period throwing some 15 million americans off of the Health Insurance they currently have. Further, this budget does what the Senate Republicans have not yet attempted to do in this congress. And that is to make a 473 billion cut to medicare at a time when so many of our seniors are struggling to keep their heads above water economically. Some of you may remember that during his campaign for president , donald trump told the American People that he would not cut Social Security, medicare and medicaid. For example, on april 18th, 2015, mr. Trump said, and i quote, every republican wants to do a big number on Social Security. They want to do it on medicare. They want to do it on medicaid. And we cant do that. And its not fair to the people that have been paying in for years and now all of a sudden they want to be cut. End of quote. Well, mr. President , tell your republican friends sitting right here in this room today that they should respect your campaign promises, the promises you made to the American People, the promises that helped get you laked to be president , tell them that you veto any legislation that cuts medicare and medicaid and compromises the promises you made to the American People. Mr. Chairman, at a time of massive wealth and income and equality in this country, worse than at any time since the late 1920s, this budget makes a bad situation worse by providing huge tax breaks to the very rich. According to the tax pollster, by the end of this decade, nearly 80 of the tax benefits of the republican plan will go to the top 1 . That is 1. 9 trillion in tax breaks to the top 1 . Unbelievably, if you think thats something, the top 1 10th of 1 would receive some 40 of the tax breaks by the end of the decade. So you look at this legislation. 40 of the tax breaks goes to the top 1 10th of 1 . Donald trump claims that his tax plan helps the middle class. But by repealing the personal exemption and the deduction for state and local income taxes, his plan increases taxes for about 30 of middle class families, those that are earning between 50 and 150,000 a year. By repealing the estate tax, this budget would give a 269 billion in tax breaks to the very, very wealthiest families this country, the walton family, the coke brothers, and by the way, the trump family as well. And here is the rub. In order to pay for these huge tax breaks for million airs and billionaires, this republican budget makes savage cuts to the life and death programs that mean so much to ordinary americans. Above and beion tyond the cuts medicare and medicaid, if you are a lower nm citizincome citi may longer be able to keep your home warm in the winter because of a cut in the budget for the low Income Home Energy assistance program. If you are a working class student, listen to this. Millions of young people are struggling to figure out how they can afford to go to college. One of the great crises that we face. This budget pro poses a 100 billion in cut in pell grants. If you are a low income pregnant woman, please understand that the republican budget will make about 6 6. 5 billion in cuts to the women, infants and children eliminating nutrition assistance to over 1. 2 million lower income pregnant women in america and to their newborn babies. At a time when millions of americans are paying 40 or 50 of their limited incomes to affordable housing, this budget proposes 37 billion cuts to the section eight rental assistance program. At a time when the cost of childcare is skyrocketing, families cant afford to find affordable childcare, this budget, this budget would throw 25,000 children each and every year by cutting off of the head start program. By cutting head start by some 3 billion. In total the republican budget would cut more than 5 trillion from education, health care, affordable housing, childcare, transportation, and other programs that working people desperately depend upon. Now, why are republicans bringing forth such an absurd budget which is so out of touch with what the American People need and what the American People want . Poll after poll tells us by huge margins the American People do not want to cut medicare. They do not want to cut medicaid. Poll after poll tells us, including a recent wall street journal and nbc poll that only 12 of the American People believe the waeealthy should receive a tax cut while 62 believe the wealthy should be asked to pay more in taxes. So why is this budget coming forward . Who does it represent . And that is a very important issue which unfortunately goes beyond the jurisdiction of this committee. What this budget is about is not a budget for the American People. Its not what the American People want or what they need. This is a budget for the billionaire class, for the coke brothers and for those people who contribute hundreds of millions of dollars to every Campaign Cycle into the Republican Party and sometimes into the democratic party. This republican budget is the budget not for ordinary people. Its a budget for the top 1 . This is a budget that must be defeated. And replaced with a budget that works for all of us and not just the people on top. Thank you, mr. Chairman. Certainly. Before i recognize the other members for Opening Statements, i want to briefly go over the process for today and tomorrow. This afternoon will be reserved for Opening Statements and tomorrows meeting will be se r reserved for debating and voting on amendments. When debate on the amendments is concluded well vote on the resolution. I request they limit their remarks to six minutes. Members will be recognized in accordance with the Committee Rules with recognition granted for the members present at the beginning of the markup in order of seniority of the committee. Members not present at the start of the markup will be recognized in the order in which they arrive. Tomorrow morning we will reconvene at 10 30 at 11 00 a. M. Because we have 10 30 votes. At which point we will begin with the consideration of amendments. This markup represents the first time the committee has used its new rule under which new rules will be provided with text to resolution five days in advance and as a result committee requires that only timely filed amendments be in order. As members know well, the budget resolution provides a fiscal cath, a blueprint. Its not the place to make decisions that are within the jurisdiction of the authorizing committee or the appropriations committees. All amendments must be fully offset over the total years covered by the budget resolution. Members must bring at least 50 copies of their amendment to courtesy of the staff. Amendments that have no force and effect are not in order. So Senate Amendments are not v market. If the parliamentarian is advised it will threaten, i will rule out of order. Our Committee Rules did not allow proxies. Therefore, members must be present when votes take place in order for their vote to be tallied, as has been done in prior markups. Ill recognize members to offer and debate amendments in certain blocks of time, and then stack the votes on amendments throughout the day. Our Committee Rules require that we have 12 members present to vote on the resolution, and eight members to conduct committee business. In prior years, agreement has been reached to keep the market moving forward, even if there were at times fewer than eight members present. This has worked well in the past, so i ask unanimous consent that for purposes of Opening Statements, the offering of amendments and debate on the amendments during markup, the quorum requirement be