Press Release ● Congress
For Immediate Release: 
January 24, 2017
Contact Info: 

Mariel Saez 202-225-3130

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today after the nonpartisan Congressional Budget Office released its Budget and Economic Outlook, showing a significant increase in the deficit over the next ten years: 

"Today’s report on the budget outlook by the nonpartisan Congressional Budget Office shows that while the actions taken during the Obama Administration are having a positive short-term impact on deficits, our long-term fiscal challenges remain.  As President Trump and the Republican House and Senate Majorities propose a massive, unpaid-for tax cut for the wealthiest, they should note the facts outlined in this report – among them that our deficits are projected to rise every year, doubling to $1 trillion annually in just five years.

"If President Trump and Republicans intend to enact their costly policies, from their tax plan to their outrageous border wall and their dangerous repeal of the Affordable Care Act, they must provide the American taxpayers with a plan to pay for them so as not to balloon our deficits and debt even further.  That must be part of the test for any proposal that spends taxpayer dollars.

"Long-term fiscal sustainability must be a bipartisan goal.  When I was Majority Leader, Democrats instituted statutory PAYGO that required Congress to pay for every dollar spent – and revenue dollar lost – instead of passing the costs on to the next generation.  In order to achieve both long-term fiscal sustainability and certainty in our economy, Republicans should return to that policy and work with Democrats to achieve responsible, bipartisan tax reform and sensible fiscal policies that don’t place the burden on the most vulnerable Americans.”