House Energy and Commerce Committee Chairman Fred Upton just issued the following statement:
“The Budget Control Act made a modest down payment on our debt in the short term and called on Congress – through a Joint Select Committee – to build on those savings with meaningful spending controls and program reforms that will continue the process of putting our fiscal house in order over the long term. I am humbled by the trust Speaker Boehner and our leadership team have placed in us, and I stand ready to serve on the Joint Select Committee alongside Chairman Camp and Chairman Hensarling on behalf of all House Republicans.
“Being from Michigan where families have endured 31 consecutive months of double-digit unemployment, I know how important it is to get our economy back on track and get Americans back to work. As someone who worked on the federal budget for President Reagan, I saw firsthand that sound economic policy is the bedrock of job creation and fiscal responsibility. And as chairman of the Energy and Commerce Committee, I know the exploding cost of health care is at the root of our long-term fiscal challenges; it's why our committee has already produced legislation to save taxpayers $90 billion, and that was just the beginning. Much more needs to be done to bring down health care costs, promote economic growth, and begin to tame runaway government. No one believes this is going to be easy, but working with our colleagues on both sides of the aisle and in both Chambers of the Congress, we will work to address our fiscal challenges and get America back to work.”
The Associated Press reports:
House Speaker John Boehner has named GOP Rep. Jeb Hensarling of Texas to co-chair a powerful new committee that will try to come up with a bipartisan plan this fall to reduce the federal budget deficit by more than $1 trillion.