Stephanie Young, 202-225-3130
WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today after President Barack Obama announced his budget proposal for Fiscal Year 2015:
“Today, President Obama proposed a budget that is focused on growth, opportunity, and security. His budget is a blueprint for investment in creating jobs, making our private sector more competitive, strengthening our schools and early learning, and pursuing greater energy security for the twenty-first century. It includes policies proven to move Americans out of poverty and into the middle class, like an expanded Earned Income Tax Credit, an increase in the minimum wage, and an extension of emergency unemployment benefits. The infrastructure funding and manufacturing institutes President Obama is proposing complement the investments in economic competitiveness that House Democrats have put forward through the Make It In America plan.
“Just as important as its investments in growing and strengthening our middle class, the President’s budget provides a framework for pro-growth business tax reform and builds on his record of fiscal responsibility by including proposals to reduce deficits by $2 trillion over the next decade on top of the more than $3 trillion already saved through reforms enacted over the last few years. Under the President’s budget, debt as a share of our economy would be lower after ten years, and deficits would be reduced to a manageable 1.6% of GDP in 2024.
“I look forward to working with my colleagues and with the Administration over the coming weeks to implement fiscal policies that reflect our nation’s highest priorities and highest values. I hope Republicans will work with Democrats in a bipartisan and constructive manner to invest in an economy that strengthens and grows our middle class and in a sustainable long-term fiscal outlook for our country.”