House Approves 2004 Budget Resolution

April 11, 2003

WASHINGTON, DC - Calling it critical to creating economic growth, Congressman David Dreier (R-San Dimas), Chairman of the House Rules Committee, voted early this morning to approve the Fiscal Year (FY) 2004 Budget Resolution Conference Report. The Conference Report approved by the House represents a final agreement between the House and Senate, which is expected to approve it later today.

"Besides funding the war on terrorism, our number one priority has to be creating economic growth," Dreier said. "This budget makes room for a jobs and growth package that will have a real stimulative effect on our economy. It also meets our national security and homeland defense needs. What's more, it begins the process of rooting out waste and fraud in federal spending. With so many pressing budget needs, it's critical that we know all our resources are being spent wisely."

On key issues, this budget will provide:

• $266.3 billion for FY '04 for Medicare, including a separate $400 billion reserve fund for Medicare reform with prescription drug coverage;
• $69.5 billion in FY '04 for Medicaid coverage, including a reserve fund of $8.9 billion over 5 years for reform;
• $63.8 billion in FY '04 for veterans programs, a $6.2 billion increase over FY 2003
• $56.1 billion for the Department of Education, including $12.7 billion for Pell Grants;
• a $50 billion reserve fund over ten years to increase access to health insurance for the uninsured; and
• $400.1 billion in mandatory spending for the Department of Defense.

Dreier noted that while homeland defense, the war on terrorism and the campaign to liberate Iraq continues to dominate our budget needs, we cannot forget about important domestic priorities. "Improving education, providing good health care, and most importantly creating jobs, remain critical objectives here at home," Dreier said. "If we can get the economy growing like it should, we will see an increase in revenues that will help us fund these and other important priorities."