Slashing the Federal Deficit

Floor Speech

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Ms. GARCIA of Texas. Mr. Speaker, I rise today to celebrate President Biden's massive accomplishment of slashing the Federal deficit by more than any other President in the first 16 months.

Mr. Speaker, this is huge. But even better news: Biden is on track to double down on building a better America for generations to come.

This year's deficit is on track to fall by $1.7 trillion which is the single largest 1-year reduction in American history. I repeat: This is the single largest reduction in American history.

In contrast, the Trump administration increased the Federal budget deficit. Every single year in office, it went up.

I can't say I am surprised, however. This accomplishment of the President is not coincidence. It is the result of a well-designed and well-managed recovery plan from the pandemic.

It is a result of President Biden and Congress passing key legislation like the historical American Rescue Plan which got people back to work, kids back in school, and families healthy again.

It is the result of a President who puts people first--not politics, people.

But on another note, it is no secret that the recent price hikes that have been caused by the war criminal Putin are burdening hardworking families. In fact, Putin's price hike has increased gas prices by $2 a gallon in many places since Russian troops began to threaten Ukraine, and families are seeing higher prices in the grocery aisles, too.

Sadly, Putin is increasing inflation, not only here in America, but also throughout the globe. House Democrats and President Biden won't stand for this. My colleagues and I are working side by side with the President to lower costs for working people at the gas pump, at the grocery store, and across the shelves.

That is why House Democrats passed critical bills like the Lowering Food and Fuel Costs Act, Ocean Shipping Reform Act, and the Consumer Fuel Price Gouging Prevention Act.

These key bills will strengthen our supply chains, create more maritime jobs in communities like my home district, and lower both gas and goods prices.

Just yesterday, Mr. Speaker, the President announced that he is in favor of taking a pause of 3 months on the Federal gas tax. He has challenged Congress to pass that, to put a pause on the Federal gasoline tax for 3 months.

Now, our tax is 18 cents. That would be 18 cents per gallon every time someone fills up. He challenged all of the Governors to do the same.

Some Governors, like the Governors of Florida and Georgia and others, have already done this. In my State of Texas, that means an additional savings of 20 cents. Added together, that would be 38 cents a gallon.

That is huge. That is a huge savings in cutting prices down. For an average tank of 15 gallons, that would be a savings of $5.70 every time they fill up.

So I hope that our Governor does like Florida and Georgia and rises to the challenge that the President has made yesterday and puts a pause on Texas' gasoline tax.

House Democrats are taking strong steps. We are joining hands with the President to make sure that we lower rising prices caused by Putin's cruel war in Ukraine. I call on all my Republican colleagues across the aisle to join us.

Most Republicans voted against all those bills that I just mentioned. It is time to act. Enough is enough. I urge them to fight with us for hardworking American families. Together, we can build a better America for today and for generations to come.

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