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. 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.
Wanted to flag this quote for you as you all work on your year-end legislative business stories. Even Rep. Jack Kingston acknowledges the leverage House Democrats have in keeping controversial policy riders out of remaining appropriations bills:
To: Reporters, Editors, Producers
Fr: Democratic Leader and Democratic Whip Press Offices
Dt: November 22, 2011
Re: Afternoon Roundup - Republican Refusal Edition
One look at today’s news makes it clear: the GOP's insistence on an unfair plan that extends the Bush tax cuts for those making more than a million dollars a year led to these headlines…
I am extremely disappointed at the Joint Select Committee’s announcement that they have failed to reach an agreement. There is no alternative, in my view, except to keep working toward the objective of a big, balanced deal. It is my intention to continue working toward that goal, and I urge both the members of the Committee – who have worked hard on this issue – and all members of the House and Senate to join that effort.
In 1995 I spoke on the floor in support of a balanced budget amendment. That was sixteen years ago. There's a lot of water over the bridge since that time. I said then, and I quote: 'I do so because I believe that this country confronts a critical threat caused by the continuation of large annual deficits.
Today the House will consider a balanced budget amendment. Democrats support balancing our budget and have worked to restore fiscal discipline, but today’s amendment is not the way to do it. With millions of Americans out of work and our economy still recovering from the recession, the balanced budget amendment could have harmful consequences by...
Last year, then-Chairman of the Joint Chiefs, Admiral Mike Mullen, said that – and I quote: 'Our national debt is our biggest national security threat.' We must do something to start paying down the debt, and that something is in the hands of the Joint Select Committee on Deficit Reduction.
Today’s jobs report shows that we need to take action on jobs immediately. But after more than 300 days in the majority, Republicans have done little to address job creation despite their repeated claims that they would focus on Americans’ top priorities: creating jobs and growing the economy. However, Republican rhetoric doesn’t match their actions.
Yesterday we had a press conference… twenty Republicans and Democrats, equal number. Mike Simpson, myself and others made it very clear that over 100 members of the House of Representatives signed the letter saying to the Super Committee, look, everything needs to be on the table – mandatory expenditures and revenues – and we need to reach a $4 trillion give or take deal to put this country on a sound fiscal path. So we sent a letter to the Committee yesterday urging them to come to an agreement on that kind of package. Erskine Bowles and Senator Simpson testified, Alice Rivlin and Pete Domenici testified on Tuesday to the same objective. I am hopeful given the weight of responsibility that we placed on their shoulders and given the critical nature of achieving the objective of a big deal and doing it within a near term that they will come to agreement. It's obviously been tough. Obviously both sides have sort of hardened positions. But it is absolutely essential in the opinion of a lot of people around this country and a large number of members of the House and Senate that we come to agreement.
We are standing together today, Democrats and Republicans united in our deep concern over the size of our deficits, their contribution to our staggering debt, and their negative effect on our economy. We are here to send a message of urgency and support to the members of the Joint Select Committee.