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Washington, DC: Today Congressman Bob Goodlatte made stops in Roanoke and Weyers Cave to discuss the Federal budget process and the importance of reining in wasteful government spending.
Recently the House Majority unveiled their proposed budget resolution for fiscal year 2009. This budget proposal, which sets federal funding levels for the coming fiscal year, will be voted on by the full House of Representatives this week. This resolution calls for the largest tax increase in American history: $683 billion over the next 5 years. This proposal significantly increases the tax burden on the middle class to pay for new wasteful government spending. Facing a slowing economy and an increased cost of living, Americans have to tighten their belts and carefully budget their hard-earned money. It’s time the Federal government did the same.
The budget proposal eliminates the critical tax cuts the Congress passed in 2001 and 2003, which means millions of Americans will be faced with higher tax bills in the future. The proposal includes a higher marginal tax rate, a reduction of the child tax credit, an increase in the marriage penalty, an increase in the estate tax, and an increase in capital gains and dividends tax rates. This substantial tax increase is used to pay for increased government spending. Specifically, the House Majority’s budget proposal exceeds the President’s spending levels by $276 billion over 5 years.
“Washington has a spending problem, not a revenue problem,” commented Congressman Goodlatte. “The tax cuts of 2001 and 2003 represent important pro-growth policies which strengthen our workforce, grow our economy and keep America competitive. Instead of raising taxes we must work to eliminate wasteful government spending.”
Congressman Goodlatte has consistently worked to hold the line on government spending by voting for the tightest budgets possible each year. Additionally, in the opening hours of the 110th Congress, Congressman Goodlatte introduced a balanced budget Constitutional amendment, which will force Congress to enact fiscally responsible spending measures, reduce the deficit, and ensure that the money our citizens work so hard to earn is not squandered on wasteful spending and programs. This resolution, which currently has the support of 160 other Members of Congress, passed the House of Representatives in 1995 by a vote of 300-132 but has not been brought to the floor by the current leadership of the House.
"The federal government must be lean and efficient and fiscally responsible,” said Rep. Goodlatte. “We must work to both eliminate every cent of waste and squeeze every cent of value out of each dollar our citizens entrust to us. Families all across our nation understand what it means to make tough decisions each day about what they can and cannot afford, and elected officials should not be allowed to ignore these tough decisions in the name of political expediency when creating spending policies for the federal government.”
The balanced budget amendment is a commonsense measure that is long overdue. It requires that Congress not spend more than it receives in revenues, requires the President to submit a balanced budget to Congress, and requires a 3/5 majority vote to increase the debt limit. A Constitutional amendment will force Congress to eliminate unnecessary and wasteful spending and make the decisions necessary to balance the budget and eliminate the federal deficit. Currently, 49 of 50 states have a balanced budget requirement.
“Congress has a clear choice in the coming months,” said Congressman Goodlatte. “We can control spending, paving the way for a return to surpluses and ultimately paying down the national debt, or we can pass this fiscally irresponsible budget, which takes money out of the hands of hard working Americans and sends it to Washington to be squandered on out of control government spending, leading us further down the road of chronic deficits. Even in these challenging times it is important for government to be fiscally responsible.”
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