Concurrent Resolution on the Budget for Fiscal Year 2008

Floor Speech

CONCURRENT RESOLUTION ON THE BUDGET FOR FISCAL YEAR 2008

BREAK IN TRANSCRIPT

Mr. SIMPSON. Mr. Chairman, I rise today to express my concern with certain provisions of the Republican Budget Substitute Amendment offered by Representative RYAN. I strongly support the tax provisions included in the Ryan Amendment. Republican tax relief has led to unprecedented economic growth and dropped the unemployment rate. More importantly, tax relief gives back to Americans their own money. The robust economic growth in this Nation over the past few years is proof that individual Americans use and invest their dollars much more wisely than the Federal Government does. I am pleased that the Ryan Amendment makes the tax cuts passed in 2001 and 2003 permanent and recognizes the reality of our Nation's fiscal situation by addressing the out-of-control growth of entitlement spending.

However, I want to make clear my views regarding certain budget process reforms included in the Ryan amendment. I am strongly opposed to giving any U.S. President the power to use a line item veto. Our Founding Fathers wisely attempted to curtail the power of each branch of the Federal Government by instituting a system of checks and balances. Granting the President additional power to veto specific portions of a bill instead of the bill as a whole cedes too much authority to the executive branch and could lead to unfair and unilateral power. I am very disappointed that the Ryan Amendment includes a provision granting the President this unconstitutional power.

While I strongly oppose the line-item veto provision and other attempts to reduce Congress's constitutional power of the purse included in the Ryan Amendment, it is clear to me that this proposal is preferable to an alternative that raises taxes by an average of $2,597 for each of my constituents.

BREAK IN TRANSCRIPT

Source