Concurrent Resolution on the Budget for Fiscal Year 2007

CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2007

Mr. SCOTT of Virginia. Mr. Chairman, the Congressional Black Caucus's budget is one that is fiscally responsible and aimed at reducing disparities in America communities. The CBC alternative is proof that even modest changes can result in tremendous outcomes.

A top priority of the CBC is addressing the exploding deficit. We believe that if we do not control the budget today, we will not be able to afford Social Security and Medicare in the future. Our fiscal responsibility produces a balanced budget in 5 years. In fact, our budget will have a surplus of $2.3 billion in fiscal year 2011. Furthermore, it improves the deficit by an aggregate $313 billion and results in savings of $10 billion in interest alone compared to the Republican budget.

We did this by returning to the tax structure similar to the one we had during the 1990s when the economy was strong, we created 20 million jobs, and the stock market was doubling every 5 years. But the rollback in tax cuts only affects that portion of an individual's income that exceeds $200,000. Our revenue is used for critical spending and deficit reduction.

The CBC alternative is committed to making America more secure by supporting our military, investing in homeland security, and caring for our veterans. It also adds to our security by funding initiatives such as juvenile crime prevention programs and prisoner reentry programs.

Some of the funding for national security, urgent homeland security needs, and veterans programs comes from a $9.4 billion reduction in ballistic missile defense, better known as Star Wars. A portion of these funds has been reallocated to protect our troops in Iraq, increase the Army's troop level, maintain current National Guard strength, and provide an additional $1 billion for Navy ship building. Another portion of these funds is allocated to address the vital homeland security needs, including port security grants. We provide an additional $20 billion to improve veterans program. We believe that the sum of all these initiatives will make us more secure as a Nation.

On the domestic side, the CBC alternative builds for America's future and addresses domestic challenges by adding $80 billion to education and job-training programs. It also provides more funding for health care, social services, transportation, and scientific research.

The CBC alternative recognizes that it is the responsibility of the government to assist in natural disasters that devastate an entire region of our Nation. The CBC budget, therefore, provides the funding for school and college reconstruction and housing in the Gulf Coast and increased funding for the Army Corps of Engineers. And furthermore, Mr. Chairman, the Gulf Coast area shipyards will benefit from the $1 billion in funding for Navy ships.

Mr. Chairman, another way of looking at the differences between the CBC alternative and the Republican budget is to start with the CBC budget and work backwards. In other words, what would you have to do to the CBC budget in order to get to the Republican budget?

Well, first, you would have to repeal pay-as-you-go budgeting. Then you would have to cut Army body armor and personal support equipment for our troops in Iraq. We would have to decrease the Army's troop level, reduce the National Guard strength, eliminate $1 billion out of Navy shipbuilding, decrease port security and rail security grants, remove Federal air marshals, delay first responder grants and cut $20 billion out of veterans programs, all to fund Star Wars and partially fund the Republican tax cuts for those with incomes over $200,000.

Next you would have to cut $80 billion out of education and job training, $20 billion out of health care, and reduce funding for housing, community services, NASA research, Amtrak, the Coast Guard, college financial aid, NIH funding, foster care, Low Income Home Energy Assistance, housing, Medicare, juvenile justice and law enforcement grants, all to fund a portion of the tax cuts going to those with incomes over $200,000.

Third, you would have to borrow approximately $300 billion, mostly from foreign governments, to fund the rest of the tax cuts for the wealthiest in our society. And at the end of 5 years, you would have to move from our $2.3 billion surplus in the CBC budget to the $163 billion deficit in the Republican budget. Mr. Chairman, that indeed would be working backwards.

We have worked tirelessly to create a budget that is fiscally responsible and recognizes the needs of the American communities around the country. It is fiscally sound, protects and promotes the best values of America, and I urge my colleagues to support this amendment.

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