Press Release ● Jobs and Economy
For Immediate Release: 
April 9, 2018
Contact Info: 
Mariel Saez 202-225-3130
WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement on the Congressional Budget Office's Budget and Economic Outlook released today:

"Today's Budget and Economic Outlook from the nonpartisan Congressional Budget Office (CBO) shows the extent to which the policies of President Trump and Congressional Republicans have exploded the debt.  The new budget baseline projection in this report shows, once again, how Republicans have failed to heed the lesson that tax cuts do not magically pay for themselves.  Instead, CBO projects these tax cuts will yield more than a trillion dollars in lost revenue over the next decade, adding $650 billion in higher interest payments, pushing the annual deficit to $980 billion next year and over $1 trillion each year thereafter, and producing $14 trillion in debt over the next decade.  That will make it even harder to maintain our infrastructure, our national security, and our economic competitiveness. 

“This CBO baseline also provides all of the evidence necessary to show that the Republican plan to vote this week on a Balanced Budget Amendment is a disingenuous charade, an attempt to mask their hypocrisy when it comes to fiscal responsibility.  Democrats will continue to promote fiscally responsible policies that put working families first and aim to grow the middle class through smart investments in opportunity and economic security."