Roe Supports Budget That Will Bring Relief to Families and Small Businesses
WASHINGTON, DC – Today, U.S. Congressman Phil Roe, M.D. (TN-1) voted against the Administration/Democratic budget that would further place a burden on American families by taxing too much, spending too much and borrowing too much. This budget would set the federal government's budget policies over a five-year window between Fiscal Years 2010 and 2014, with a total five-year cost of $18.258 trillion. This same budget includes a “cap and trade” or “cap and tax” system on carbon, which will raise taxes on everyone who uses energy.
“Families and small businesses across our nation and in the First District are struggling and many are looking for ways to hang on through these troubling economic times,” said Roe. “This budget will put the grease on the thin thread many are hanging onto in order to survive – making it harder for struggling families to hang on. This bill threatens to worsen the economy and destroy more American jobs. The spending in this budget is staggering, and it includes an energy tax increase on anyone who drives a car, flips on a light-switch or buys an American-made product that uses energy. It will double our debt in five years and triple our debt in the next 10 years.
“I want to see folks in East Tennessee obtain relief, but the priorities in this budget will move our country in the wrong direction – it spends too much, it taxes too much, and it borrows too much from our children and grandchildren.”
Total spending in FY 2010 would be $3.550 trillion. The budget assumes a deficit of $1.694 trillion in FY 2009, which falls to $585 billion in FY 2013 before beginning to rise again in FY 2014. Under the Democrat budget, the debt held by the public would reach $11.577 trillion in FY 2014, or 67 percent of gross domestic product (GDP), according to estimates by the Congressional Budget Office. The budget would also increase the statutory debt limit to $13.223 trillion in 2010, or 9.2% above the current debt limit.
Congressman Roe supported a budget alternative that was also supported by most Republicans. The budget alternative capped non-defense, non-veterans discretionary spending, slowed the rate of increased spending in our entitlement programs (Medicare, Medicaid and Social Security), cut taxes and stopped wasteful stimulus dollars from increasing our debt even further.
“I believe the budget Republicans proposed and supported is in line with what most East Tennesseans want from their government,” said Roe. “It set priorities, lowers taxes and challenges the 'tax and spend' ideology that has been making decisions recently. I’m sorry it was not adopted.”
To view a comparison of these two budgets, please click here.