Sessions Supports President's FY 2008 Budget

Press Release

Sessions Supports President's FY 2008 Budget

U.S. Congressman Pete Sessions (R-Dallas) today made the following statement regarding the President's fiscal year 2008 budget request:

"The President's budget request provides Congress with a fiscally responsible roadmap to address long-term fiscal challenges as well as immediate foreign and domestic priorities. I applaud the President's plan to balance the budget within five years without raising taxes by supporting pro-growth policies and spending restraint—policies which will enable American families and small businesses to keep more of their own money and promote accountability with taxpayer dollars.

"I am pleased that the President's proposal would reduce or eliminate 141 wasteful, unnecessary government programs. I am committed to identifying and reducing other wasteful programs to ensure that Congress acts responsibly with taxpayer money.

"But we must do more—spiraling entitlement programs, including Medicare and Social Security, threaten to encompass the entire budget by 2040. Entitlement spending is growing faster than our economy—growing at more than twice the rate of inflation and accounting for more than 50 percent of our nation's budget. That is why I support reforming and strengthening important programs such as Social Security, Medicare and Medicaid to ensure viability for future generations.

"Like President Bush, I believe that a balanced budget plan should not increase the tax burden on American families and small businesses so that the government can engage in spending sprees. I support continued tax relief to ensure that Americans have more money to invest in the economy, which will increase revenue into the U.S. Treasury to fund foreign and domestic priorities.

"For example, the President's proposal calls for permanently extending the tax cuts passed by Congress in 2001 and 2003 and providing relief from the Alternative Minimum Tax to ensure that it does not ensnare middle class families. This tax relief is critical for continued economic growth, building on the 7.4 million new payroll jobs created in the last four years.

"The bottom line is that pro-growth policies are working: the deficit has been cut in half two years ahead of schedule. The key to balancing the budget is implementing pro-growth policies along with fiscal responsibility - not raising taxes so that the government can spend more of taxpayers' money."

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