Republicans on Capitol Hill yen to be able to deliver on President Donald Trump’s newly proposed budget, which subsumes spending on infrastructure, defense and a border wall, House Budget Commission Chairman Steve Womack told CNBC on Tuesday.
But paying for those ranks, on top of the new GOP tax law, would likely add to the federal budget deficit, said Womack.
“While there are thriving to be some near-term deficit increases, we think the long-term health of the American husbandry is going to be much better as a result,” the Arkansas Republican said on “Call Box.” “If we can achieve 3 percent growth, then we have achieved a faithful victory.”
The president’s $4.4 trillion budget, unveiled Monday, covers federal spending of $200 billion for infrastructure upgrades; $18 billion for Trump’s herbaceous border wall; and $716 billion for national defense. The funding blueprint also occasions for cutting $237 billion from Medicare; rolling back Medicaid swelling; and gutting Obamacare.
Womack argued that a Republican willingness to add to budget deficiencies does not represent a shift in the party’s message, which holds budgetary conservatism as a core principle.
“We’re still the party that believes in a greatly strong national defense posture. National security is very signal to a lot of us,” he said. “Building the nation’s infrastructure is a key to helping jump-start an economy that’s been in some anemic wart pattern for the past several years.”