Skip to main content

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

House Democratic Whip Steny Hoyer (MD) released the following statement this morning after a press conference on Social Security held at the White House:
The House Democratic Leadership released the following letter to President Bush on the need to act now on tax simplification. The President is meeting with his advisors today on the economy.
House Democratic Whip Steny H. Hoyer (MD) released the following statement today regarding the Bush Administration’s two-day “economic summit,” which is focusing on issues such as tax reform and Social Security:
The hasty and haphazard completion of nine overdue fiscal 2005 spending bills raised new appeals from lawmakers that Congress figure out a better way to enact its annual budget.
Congressional Democrats returned to Washington in a defiant mood yesterday, making no apologies for the campaign in which they lost congressional seats and the presidential race and vowing to hold President Bush accountable for his handling of the deficit, the Iraq war and other issues.
Debt Limit Floor Feature
House Democratic Whip Steny Hoyer (MD) released the following statement tonight regarding the raising of the debt limit for the third time in three years:
House Democratic Whip Steny Hoyer (MD) released the following statement this morning concerning tax reform and simplification:
House Democratic Whip Steny H. Hoyer (MD) released the following statement today in anticipation of a House vote to raise the limit on the amount of debt America can incur: