Budget
More on Budget
The so-called “sequester” is the latest showdown to grip the attention of Washington and the nation. The House of Representatives voted twice to replace these arbitrary cuts before the March 1 deadline with commonsense reductions and reforms. However, these cuts are now in effect because the President and the Senate have yet to propose and pass a viable alternative.
This week, President Obama delivered the annual State of the Union address to a joint session of Congress. The speech is a great tradition and it is an important opportunity for the President to share his vision with Congress and the American people. While there were positive elements of the speech, I was disappointed President Obama did not say anything to indicate he has a serious plan to address our nation’s most urgent problem – out-of-control federal spending and debt.
Congressman Adrian Smith (R-NE) released the following statement responding to President Obama’s State of the Union Address:
Congressman Adrian Smith (R-NE) released the following statement today after voting in favor of H.R. 444, which would require the President to put forward a plan to balance the budget.
One of the most basic functions of government is to pass a budget – to decide how to use tax dollars based on the needs of the nation. The House of Representatives has passed a budget every year since Republicans won a majority, but the House cannot act alone. The Senate, which has not passed a budget in nearly four years, must also act to address our long-term deficit and debt.
Congressman Adrian Smith (R-NE) made the following statement today after passage of H.R. 325, the No Budget, No Pay Act:
The House, Senate and President all recently agreed to last-minute legislation to stop automatic tax increases and delay arbitrary defense spending cuts known collectively as the “fiscal cliff.” The President had consistently said the fiscal cliff must be resolved through a “balanced approach” to deficit reduction including new tax revenues as well as spending cuts. However, the agreement passed by Congress only addressed the issues of taxes, which is neither good policy nor a balanced approach.
Washington, D.C. – Congressman Adrian Smith (R-NE) made the following statement after voting against the Senate’s fiscal cliff agreement:
“This debate is not over. My concerns about spending remain and I will continue to fight to reduce the deficit and pass commonsense tax reform to put our country on a more sustainable and prosperous path. We must find an alternative to arbitrary defense cuts, but simply delaying these difficult decisions without replacing the spending reductions is the wrong approach.”
Background:
Congressman Adrian Smith (R-NE) sent a letter to Speaker John Boehner (R-OH) requesting the inclusion of farm policy in any year-end legislative package considered by the House of Representatives. Smith’s letter also was signed by Congressman Lee Terry (R-NE).
As Congress turns its focus to resolving the fiscal cliff - the end-of-the-year deadline after which deep cuts in spending and increases in tax rates for all earners take effect - there is much disagreement on how to bring down the deficit in a responsible way without harming our economy. The question of tax rates remains one of the largest sticking points to the debate. Should tax rates increase for one group more than another group? Do we need to increase federal revenue? Should some businesses be hit harder than others?