Conference Report on S. Con. Res. 70, Concurrent Resolution on the Budget for Fiscal Year 2009

Floor Speech

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Ms. PELOSI. Mr. Speaker, I thank the distinguished gentleman, the Chair of the Budget Committee, for yielding, and I thank him for bringing this excellent document to the floor, a budget which will help us protect our country, grow our economy, give middle income tax cuts, and do so in a fiscally sound way.

Mr. Speaker, as we all know, our budget is a statement of our national values. At least it should be. Now for the first time in our New Direction Congress, last year and this year, for 2 years straight, we have put forth a budget resolution, the first time a budget resolution has been put forth in an election year by the Congress since the Republicans took over. Now the Democrats are in charge and we have had 2 years of responsible budgeting.

I listened with interest to our colleagues and their views on this budget. They certainly are entitled to their opinion, but they are not entitled to their own set of facts. I want to just quote from some of the responsible independent budget organizations, some of them conservative-leaning organizations, when it comes to their false claim about this budget increasing taxes.

The Committee for a Responsible Federal Budget says, ``The conference agreement does not raise taxes.''

The Hamilton Project of the Brookings Institution says very clearly, ``The budget would not raise taxes.'' Indeed, your budget, Mr. Spratt, indicates that one of your priorities is making up-front cuts in taxes for alternative minimum tax relief that ultimately would be paid for without increasing the budget deficit.

The Center on Budget and Policy Priorities says, ``Some claim that the budget plan of the conferees would constitute `the largest tax increase in history.' This claim is inaccurate. This year's budget plan does not include a tax increase. It actually calls for a $340 billion reduction in revenues.''

The problem that our friends on the Republican side have is that these tax cuts are for the middle class, not just for their friends in the upper 1 percent bracket. These tax cuts address the marriage penalty, address the 10 percent tax bracket, address the child tax credit. The middle class and those who aspire to it benefit from this budget.

This is a fiscally sound budget, and for that we are all in Mr. Spratt's debt. This budget has to be balanced in terms of its spending and its priorities, and, indeed, it is a statement of our values.

I would like to see anyone in this room who supports veterans say they cannot support the budget provisions in this legislation. In this bill, for our veterans it provides an additional $3.7 billion for veterans health care and services, which is why this budget has the strong support of major veterans groups.

When it comes to energy, an issue of major concern to households across America, this budget provides $7.7 billion for renewable energy, energy efficiency and other energy initiatives, which is $2.7 billion more than just last year.

In innovation, let's stop having these stale debates about trade or no trade. Let's educate, innovate, compete and prevail in the global marketplace. This budget provides nearly $2 billion to fully accommodate the commitments made in the America COMPETES Act, which was voted on by an overwhelming number of Republicans to give us a huge vote in the Congress and signed by the President. This is to spur innovation and invest in basic scientific innovation.

Again, by setting the right priorities and making tough choices, our budget also cuts taxes again for the middle class and those aspiring to it and protects 20 million households from the alternative minimum tax.

In any year, creating a budget is a difficult challenge. In an election year, it is even more challenging, because of all of the competing priorities that want to be in the budget. But this year we have a budget that is in balance in terms of its values and is in balance in terms of the track that it puts us on.

Thank you, Mr. Spratt, for putting us on track, with no deficit, for the budget to be in balance by 2012. It is fully compliant with pay-as-you-go rules. It is a budget, again, of the statement of our values, fiscally responsible, pay-as-you-go. It has tremendous merit, and it should have the support of every person in this body.

I urge a ``yes'' vote on the budget.

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