WASHINGTON, D.C. – U.S. Senator Angus S. King, Jr. (I-Maine), a member of the Senate Budget Committee who contributed to the development of the Fiscal Year 2014 Budget Resolution, praised its passage today out of the Senate.

Several provisions championed by Senator King, including the Biennial Budgeting and Appropriations Actand an amendment to increase funding for low-income weatherization efforts, garnered broad, bipartisan support in the Senate. The broad support indicates that similar stand-alone legislation has a good chance of enactment into law.

Senator King said:

“Like so many Americans, I’ve been amazed that Congress has run the country on short-term, haphazard budgeting laws for the past four years. It’s exactly the reason why one of my highest priorities as a new United States Senator has been to help craft and pass a budget. I’m pleased that a major step toward that goal was accomplished today.

“I believe the proposal the Senate passed is both reasonable and balanced. Not only does it replace sequestration, but it also forges a credible path toward fiscal stability by promoting economic growth and job creation while responsibly addressing our debt and deficits. Taken in combination with steps enacted over the past two years, the plan reduces the projected deficit by more than 4 trillion dollars over the next ten years. This exceeds the target set by the major non-partisan deficit reduction commissions and represents a significant step toward fiscal stability. Sixty-four percent of this deficit reduction is due to cuts in expenditures, while 36 percent is derived from revenues.

“I’m also pleased that the Senate supported a bipartisan provision sponsored my colleagues, Senators Shaheen and Isakson, which I cosponsored, that would significantly improve our budgetary process by converting to a two year budget cycle. The change would not only maximize taxpayer dollars and cut government waste, but it also would introduce budgetary stability so that investors, entrepreneurs, and consumers can once again regain confidence to invest in our economy.

“It’s also encouraging that the Senate supported an effort by Senators Reed and Collins and me to increase vital funding for low-income weatherization efforts that will help Mainers protect against bitterly cold winters, reduce their energy costs, and also curb America’s dependence on foreign energy sources by an estimated $50 million in the upcoming fiscal year.

“In the final analysis, I recognize that much negotiating still remains as the measure passed today heads to conference to be reconciled with the starkly different one passed by the House. I urge the President to play an active role in these negotiations and reiterate my call on my colleagues to recognize that we have an opportunity to collaboratively accomplish a comprehensive, compromise plan that addresses the most pressing fiscal needs of our nation.

“Lastly, it’s important to note that by developing, marking-up in committee, and debating a budget resolution on the floor, the Senate has moved one step closer toward returning to a regular budget process. As a strong believer in the idea that process dictates policy, this procedural achievement represents significant progress, and I’m hopeful that it will continue.”

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