United States Senator Jeff Sessions
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Budget, the Economy, and Taxes
Responsible Management of American Finances
In the U.S. Senate, Jeff Sessions has earned the reputation as a tough fiscal conservative. At every turn, Sessions works hard to limit spending, keep taxes low, and fight waste, fraud, and abuse.
In January 2011, Sessions was appointed to be Ranking Member of the Budget Committee, a committee he has been a part of since 2003. Senator Sessions has worked to develop reasonable, responsible budgets that meet our national priorities without excess growth of the federal government. At a time when the nonpartisan Congressional Budget Office warns that “U.S. fiscal policy is on an unsustainable path,” Sessions understands the need to get tough on Washington-style borrowing and spending.
Senator Sessions knows that low taxes lead to economic growth, and he believes that Americans know how to spend their hard-earned money better than politicians in Washington. Putting money back in the taxpayers' hands allows individuals to invest in the future of our country.
Sessions regularly stands guard on the Senate floor looking out for the American taxpayer by offering amendments and pursuing bipartisan efforts to combat wasteful and unnecessary spending. In 2001, Senator Sessions introduced the "American Family Economic Security and Stimulus Act" to provide immediate assistance for displaced workers and tax relief for working Americans. In 2005, he introduced legislation to immediately eliminate the death tax. In 2007, Sessions successfully championed a bill through Congress to create a federal law to punish those that fraudulently obtain federal disaster assistance during a national emergency, like Hurricane Katrina. He offered an amendment to the Senate Budget Resolution to make it easier under Senate procedures to extend President Bush's expiring pro-family, pro-growth tax cuts.
Sessions’ Efforts to Rein in Spending
Senator Sessions offered an amendment to impose a tough, binding cap on government spending. Currently, spending restrictions contained in each year’s budget are difficult to enforce and often ignored. Sessions’ proposal would impose a new 67-vote threshold to waive those restrictions, except in cases of designated national emergency.
Sessions' amendment is substantially similar to spending caps that were part of budget reforms passed in the 1990s, which led to 4 balanced budgets during that time. However, spending ballooned when the caps were allowed to expire in 2002. Sessions' current proposal is endorsed by independent budget watchdogs, including Citizens Against Government Waste, the National Taxpayers Union, and the Heritage Foundation.
To view the amendment sponsored by Senator Sessions (R-AL) and Senator McCaskill (D-MO) please click here.
Background Information for Constituents
National surveys show that the American people are worried about the country’s burgeoning debt. This is no longer solely an academic debate, as interest payments on our debt mean there is less to spend on other government services. By 2019, the country’s annual interest payment is projected to reach $800 billion—more than 20 times what we currently spend on education.
As a service to his constituents, Sen. Sessions will post occasional updates for those who wish to read about the fiscal situation for themselves.
Budget and Appropriations Process
“The federal budget is a compilation of numbers about the revenues, spending, and borrowing and debt of the government. Revenues come largely from taxes, but stem from other sources as well (such as duties, fines, licenses, and gifts). Spending involves such concepts as budget authority, obligations, outlays, and offsetting collections. The numbers are computed according to rules and conventions that have accumulated over the years; they do not always conform to the way revenues and spending are accounted for in other processes…
When Congress appropriates money, it provides budget authority, that is, authority to enter into obligations. Budget authority also may be provided in legislation that does not go through the appropriations process (direct spending legislation). The key congressional spending decisions relate to the obligations that agencies are authorized to incur during a fiscal year, not to the outlays made during the year. (Obligations occur when agencies enter into contracts, submit purchase orders, employ personnel, and so forth; outlays occur when obligations are liquidated, primarily through the issuance of checks, electronic fund transfers, or the disbursement of cash.)”[1]
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