Chairman Arrington: Trump and Republicans Deliver Historic Deficit Reduction

Chairman Arrington: Trump and Republicans Deliver Historic Deficit Reduction

Washington, D.C.- According to a new analysisfrom the Congressional Budget Office (CBO), President Trump's trade agenda will reduce total deficits by $4 trillion. Budget Chairman Jodey Arrington (R-Texas) released the following statement:

"The latest CBO analysis confirms that, over the next decade, President Trump's trade agenda alone is projected to generate $3.3 trillion in new revenue and save $700 billion in interest costs-cutting our national deficit by $4 trillion.

"No president and Republican-led Congress in modern history has done more to rein in Washington's reckless spending and strengthen our nation's fiscal health.

Here's how President Trump and Republicans in Congress are doing it:

• Passing pro-growth policies in the One Big Beautiful Bill, which will help generate $2.6 trillion in new revenue to the Treasury;

• Eliminating $1.5 trillion in waste, fraud, and abuse in the federal government-the largest savings ever achieved;

• Right-sizing the bloated bureaucracy with President Trump's proposed 23% reduction in annual appropriations, saving $2.3 trillion; and

• Returning to America First trade by holding foreign competitors accountable and bringing in $3.3 trillion to the Treasury.

"President Trump and Republicans in Congress are restoring confidence in our economy, putting more money back in Americans' pockets, and securing a brighter future for our children and grandchildren."

MORE FROM THE HOUSE BUDGET COMMITTEE

• READChairman Arrington's statement on the national debt surpassing $37 trillion.

• WATCHChairman Arrington highlight the importance of continued fiscal restraint, economic reform, and America-first trade policies on Fox Business