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WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today in response to President Bush signing a $70 billion tax bill and House Republicans' third attempt to pass their irresponsible FY07 budget.
"From 1600 Pennsylvania Avenue to the Halls of Congress, Republicans are sending a wave of red ink through Washington today. While President Bush signs into law an additional round of tax cuts that largely benefits the wealthiest few Americans, House Republicans are making a third attempt to push through their fiscally misguided FY07 budget resolution. These reckless policies will leave America deep in Republican debt for generations.
"The Republican tax cuts do little for middle class American families, and widen the gulf between the rich and poor. A family making between $40,000 and $50,000 will only see an additional $46 from these tax cuts - barely enough for a tank of gas. Meanwhile, these tax cuts add to our record-setting deficits and undermine America's ability to invest in job training, education, health care and other priorities.
"The Republicans' FY07 budget proposal showcases the disastrous cause-and-effect relationship between Republican deficits and our decreased ability to invest in America's future. It fails America's families, children, and seniors. Worse still, it would increase the statutory debt limit for the fifth time since President Bush took office.
"In our budget alternative, Democrats proposed responsible policies, such as the pay-as-you-go (PAYGO) budget rules that led to record surpluses in the 1990s. Democrats believe voters are tired of Republicans' unfair and irresponsible policies and will vote for change this November."