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M. Speaker, I am honored to stand here today to introduce the Fiscal Year 2010 House Budget Resolution.
I want to thank my friend and Budget Committee Chairman, John Spratt, for all of his incredible work on this budget. He's smart, he's fair, and no one cares more about these issues. I also want to thank our Ranking Member, Paul Ryan. Even though I often, disagree with him, I admire his intellect and his dedication to his principles. I thought we had a spirited, substantive debate in the Budget Committee, and I'm sure we'll have more of the same here on the floor.
I also want to thank the staff of the Budget Committee - Democrat and Republican - for their tireless effort and their commitment to public service.
The budget before us today represents a clean break from the past.
For the last eight years, President Bush flat-out mismanaged the federal budget. How? By enacting huge tax cuts for the wealthiest Americans that led to skyrocketing deficits, by spending hundreds of billions of dollars on the wars in Iraq and Afghanistan without paying for them, and by refusing to invest in the American people.
In November, the American people said -Enough.-
They voted for change. They voted for a new direction. And that's what this budget is all about.
We are not only turning the page on the last eight years - we're writing a whole new book.
Our budget cuts the deficit by more than half by 2013. It cuts taxes for middle income families by $1.5 trillion. It creates jobs by investing in health care, clean energy and education.
Let me briefly outline those three areas: fiscal discipline, middle class tax cuts, and investments in the American people.
As I said, our budget will cut the deficit by more than half in 2013. And in order to get us back on a fiscally sustainable path, the budget provides a REALISTIC assessment of our fiscal outlook. Unlike the Bush Administration, we actually budget for the wars in Iraq in Afghanistan instead of hiding them under -emergency- spending categories. We budget for natural disasters that inevitably will occur.
Our budget CUTS taxes for 95% of Americans. Let me repeat that, M. Speaker, because we will hear a lot of rhetoric from the other side about taxes. This budget cuts taxes for 95% of Americans. It provides immediate relief from the Alternative Minimum Tax, eliminates the estate tax on nearly all estates, and works to close corporate tax loopholes.
You see, all of us believe in altering the tax code. We believe that we should reduce the tax burden on the middle class and those trying to get into the middle class. We believe that corporations shouldn't be allowed to shirk their responsibility by hiding their profits in offshore tax havens. The other side believes we should reduce taxes for the very wealthiest. It's a simple difference in philosophy.
And most importantly, this budget actually invests in the American people. What a welcome change from the past eight years.
We invest in health care reform, not just to improve health care quality and improve coverage, but to reduce the crushing burden of health care costs on American businesses. Everybody likes to talk about health care reform; this budget actually gets it done.
We invest in clean energy in order to create jobs, improve the environment and reduce our dependence on foreign oil. We invest in renewable energy and energy efficiency. Everybody likes to talk about energy independence; this budget actually gets it done.
And we invest in education to reclaim our place as the best-educated workforce in the world. We work to expand early childhood education and to make college more affordable. Everybody likes to talk about improving education; this budget actually gets it done.
So that's what WE would do. And as for my Republican friends? More of the same. Last week they made a big to-do when they introduced their own QUOTE- -Budget- - END QUOTE. In fact, it wasn't much of a budget at all, given the fact that it didn't include any numbers. What it did include was lots of empty rhetoric and a belief in massive tax cuts for the wealthy.
M. Speaker, the American people have seen that movie before, and they gave it ‘two thumbs down.' I know its April Fool's day, but don't be fooled by my Republican friends.
My Republican friends will talk a lot about the difference in economic growth estimates between the Office of Management and Budget and the Congressional Budget Office. But here's the thing: There will be NO growth unless we invest in the American people. There will be NO growth unless we get a handle on these deficits. There will be NO growth as long as health care costs and inadequate education and dependence on foreign oil keep us down.
I know that change is hard. I know my Republican friends want to cling desperately to the failed policies of the past. But the good news is that despite all the nasty press releases and television ads and talk radio attacks on the President, the American people still support President Obama's vision for America.
That's why this budget is so very important. This is a budget with a conscience. It's a budget that believes in the American spirit. And it's a budget that fulfills the promises that President Obama made to the American people.
We are at a crucial moment, M. Speaker. Our country can meet its potential. Our children can have a better future. But in order to make that happen, we need to change. We need to move in a bold, innovative new direction. We need to pass this budget.
I urge my colleagues join me in support of this rule and the underlying bill, and I reserve the balance of my time.
