Rep. Johnson votes to pass broad economic plan for growth
Unlike the Bush Administration, which inherited a $5.6 trillion surplus in 2001, the Obama Administration inherited a deficit of more than $1.2 trillion in 2009 and the worst economic downturn since the Great Depression.
The budget the House of Representatives passed on April 2 – $3.55 trillion – begins on Oct. 1.
“I have always been deeply concerned that under the Bush Administration there was a major transfer of wealth in this country from the middle-and-lower income earners to the upper 10 percent of earners,” said Johnson.
“With targeted investments and reforms in health care, clean energy and education, while reducing non-defense discretionary spending to its lowest level in nearly half a century, this budget begins to turn around nearly a decade of special breaks to the wealthiest Americans and instead invests in everyday Americans.”
The House-passed, long-term economic plan will cut the deficit nearly two-thirds by 2013. It cuts taxes for middle-class families by $1.5 trillion, overhauls the healthcare system to lower spiraling costs and insures millions of people who have no coverage today.
On energy, the House budget seeks to invest in alternative sources while slashing industrial pollutants that contribute to climate change. Education funding is increased to boost programs ranging from early learning to college tuition aid.
“This country cannot afford more of the failed policies of the last eight years,” said Johnson, referring to his friends on the other side of the aisle who seek significantly less spending on domestic programs but more on defense and insist on the continuation of the Bush tax cuts to the wealthiest Americans.
“The Bush Administration failed to invest in our economy and protect taxpayers, and we will not repeat those mistakes.”
For more on the House 2010 budget, log on to https://budget.house.gov/