Van Hollen Statement on Updated CBO Long-Term Budget Outlook
We Must Rebuild Our Economy and Put in Place a Balanced Plan to Reduce the Deficit – but GOP is Not a Willing Partner
Washington, DC – Today Maryland Congressman Chris Van Hollen, Ranking Member of the House Budget Committee, released the following statement on the Congressional Budget Office’s updated long-term budget outlook:
“Today’s updated long-term budget outlook from the Congressional Budget Office (CBO) reinforces the fact that Congress must act now to put Americans back to work, rebuild our economy, and put in place a balanced plan to reduce the deficit. We’ve already enacted $1 trillion in spending cuts under the Budget Control Act, and Democrats support additional, targeted spending cuts – but that must be coupled with cutting tax breaks for millionaires and special interests.
“Unfortunately, we have yet to find a willing partner in our Republican colleagues. Instead of extending the tax cuts for working families while asking the very wealthy to share greater responsibility in deficit reduction, House Republicans want to ask more of those who are already struggling to make ends meet. Speaker Boehner’s threat to let our nation default on its debt and refusal to extend tax cuts for over 99 percent of Americans only compounds the problem. It’s time for the GOP to put the needs of all American families ahead of millionaires and Big Oil companies, and meet Democrats half way to boost our economic recovery and get our fiscal house in order.”