Sen. Portman votes for first balanced budget in more than a decade

Washington, D.C. – Today, U.S. Senator Rob Portman (R-Ohio), a member of the Senate Budget and Finance Committees, voted in favor of the Concurrent Budget Resolution, which has now been passed by both the House and Senate.

This is the first balanced budget passed by Congress in over a decade.

The resolution includes language similar to Portman’s dynamic scoring legislation, which would create a rule requiring the Senate to adopt “dynamic scoring” of major tax and spending legislation.

Virtually all economists agree that major tax changes can alter economic growth rates, which in turn impact the revenue effect of those changes. However, currently the official “static” scores exclude these macroeconomic impacts. The Joint Committee on Taxation (JCT) and Congressional Budget Office (CBO) already have the models and resources to score the macroeconomic impact of major tax and spending bills at no taxpayer cost.

“I’m pleased to support this budget which promises taxpayers a more efficient, effective, and accountable government,” Portman said.

“While no budget is perfect, this budget balances and contains ideas that will help boost jobs and grow our economy. It also includes provisions similar to my dynamic scoring bill which allows legislators to make decisions based on real economic numbers rather than static, out-of-touch estimates that discourage reform. Congress has a responsibility to pass a budget, and I’m pleased to be part of the effort to make Washington work again.”