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Fiscal Responsibility

Over the years, Democrats have shown our commitment to restoring fiscal responsibility by taking actions that have reduced our national deficit while investing in the American people’s priorities.

Over the years, Democrats have shown our commitment to restoring fiscal responsibility by taking actions that have reduced our national deficit while investing in the American people’s priorities. During the 117th Congress, House Democrats delivered the landmark Inflation Reduction Act, which will reduce the deficit by over $300 billion while lowering health care and energy costs and taking action on climate change. In sharp contrast, Republicans jammed their 2017 Trump Tax Scam through Congress without a single hearing, gifting trillions of dollars in unpaid-for tax handouts to the wealthiest Americans and large corporations while leaving our nation with ballooning deficits. They have repeatedly held our economy hostage to benefit their irresponsible ideological agenda, whether creating artificial “fiscal cliffs,” shutting down the government, or bringing our nation to the brink of defaulting on its obligations. With other landmark legislation delivered during the 117th Congress, including the American Rescue Plan, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, Democrats have worked to invest in economic recovery, job creation, all while cutting the deficit in half last year. Democrats are committed to continuing our work to restore sound, long-term fiscal management so future generations can afford to invest in opportunities, secure the American Dream, and ensure workers have the tools to Make It In America.


Related

Fiscal Year 2005 Budget
Fiscal Year 2005 Budget Resolution, Trnsportation Equity Act—Legacy for Users (TEA-LU), New Unemployment Figures
Permanent extension of Marriage Penalty bill, Short-term extension of Transportation bill, Conference Report on Republican Budget Resolution for FY 2005
Transportation, Treasury, and Independent Agencies Appropriations Act for Fiscal Year 2004, District of Columbia Appropriations Act for Fiscal Year 2004, Fair and Accurate Credit Transactions Act of 2003
National Defense Authorization for Fiscal Year 2004 Conference Report, Century of Aviation FAA Reauthorization Conference Report
House Democratic Whip Steny Hoyer (MD) released the following statement this morning regarding the Department of Labor’s Employment Report for May, which showed the economy gained 248,000 jobs last month but the unemployment rate remained stubbornly stuck at 5.6 percent:
report from the Democratic Whip's office...
House Democratic Whip Steny Hoyer (MD) released the following statement in response to an important study released today at a press conference with the Urban-Brookings Tax Policy Center and the Center for Budget and Policy Priorities (CBPP). The joint report examines the effects of the 2001 and 2003 tax cuts, illustrating that while wealthy taxpayers benefited from the tax cuts, low- and middle-income households are likely to lose significantly once costs of the tax cuts are paid for:
Democrats were in a full-court press yesterday, criticizing President Bush for an administration document they say directs federal agencies to prepare preliminary 2006 budgets that cut spending for education, veterans benefits and other key programs after the 2004 election.
For most of the past two decades, House members have been able to play a raise-the-debt-free card, enabling them to permit the government to go deeper into the red without conducting a politically painful stand-alone vote.