Hoyer Statement on the CBO's Annual Budget and Economic Outlook

For Immediate Release:

January 19, 2016

Contact:

Mariel Saez 202-225-3130

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer released the following statement today after the Congressional Budget Office released its annual Budget and Economic Outlook:

“Today’s Budget and Economic Outlook summary from the Congressional Budget Office (CBO) ought to be a reminder that there are real fiscal consequences to Congress not paying for what it buys.   Today’s new baseline shows a deficit that is going back up, a fact that CBO specifically notes was exacerbated by the unpaid-for tax cuts that Congress passed last month.  I voted against that bill precisely because it predicated today’s worsening deficit outlook.

“I expect that Republicans will use today’s report and the additional $105 billion in deficit spending projected this year as an excuse to renew their push for painful austerity measures that target the most vulnerable in our society in their budget resolution.  We must not allow that to happen.  What we need to do now is work together, across the aisle, to achieve sustainable deficit savings by passing comprehensive tax reform that raises revenue rather than cuts it, investing in economic competitiveness to support continued economic growth and raise incomes, and reaching consensus on how best to prioritize spending.  I hope Democrats and Republicans can come together this year to make progress toward putting America back on a sound fiscal path.”

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