For the fifth year, NTU Foundation is bringing taxpayers from across the country together to toast the life and legacy of economist Milton Friedman. We had such a great response last year in partnering with the Tax Foundation that we're doing it again -- both in person and online! The two organizations will be joined by the Washington, D.C. chapter of Liberty on the Rocks to help collect school supplies for the Perry Street Preparatory School, in honor of Friedman's dedication to educational choice.
In the D.C. Area? NTUF, TF, and LOTR-DC are hosting our Fridman happy hour at the Laughing Man Tavern on Thursday, July 29th. Bring school supplies such as pencils, notebooks, and binders for Perry Street. Complementary drinks will be provided and there will be a special game!
Outside of D.C.? NTUF will be hosting a special Cards Against Liberty web page soon that will let Americans honor Milton Friedman. Details coming soon!
Today, National Taxpayers Union Foundation (NTUF) released a new study, from the organization’s BillTally project, finding that all the legislation proposed during the 113th Congress’ First Session would have added a net $1.09 trillion to the federal budget if enacted.
BillTally is NTUF’s unique cost-accounting program that provides a comprehensive overview of the net cost of all the spending and savings bills introduced in the House and Senate (not just legislation that makes it to the floor for a vote). The latest analysis identified 680 non-overlapping spending proposals between the two chambers adding up to $1.84 trillion, as well as 119 unique savings proposals that would have cut $750 billion – for a $1.09 trillion total cost (increases minus cuts) for Congress’ budgetary agenda.
BillTally reveals a Congress that has departed from the fiscal paths of both its predecessors – the Pelosi-Reid 111th Congress and the Tea Party-influenced 112th Congress. The partisan budget clashes that marked the past four years and led to historic spending increase and cut activity at the same time certainly didn’t disappear in 2013, but they are somewhat less prevalent.
The 113th Congress saw a narrowing of the gap between the parties’ spending agendas, with the average House Republican supporting one-third fewer budgetary savings, and the average House Democrat seeking $100 billion less in spending.
In the upper chamber, Senate Democrats on average proposed less spending than they had since the 104th Congress, and Senate Republicans sought an average of nearly $100 billion less in budget cuts.
“The budgetary battles may have cooled within the halls of Congress,” said NTUF Director of Research Demian Brady. “The Tea Party still makes headlines, and many Democrats still seek single payer healthcare, but this Congress has shown less enthusiasm for either dramatic spending hikes or budget cuts.”
The highlights from NTUF’s BillTally report for the First Session of the 113th Congress: