Fiscal and Economic
More on Fiscal and Economic
June 21, 2018 Speeches
My amendment takes all the policy reforms in the budget resolution and writes those savings into the reconciliation instructions. This does not change a single recommendation that we have been debating. It simply implements them – about $3.55 trillion over ten years after removing interest payments and non-reconcilable items under the Byrd Rule. During my eight years on this committee, my greatest frustration is that every year we make policy recommendations, and then claim that the budget will balance within the decade based on those recommendations
June 8, 2018 Vote Notes on Legislation
This is a combination of appropriations bills that funds the legislative branch, the Veteran’s Administration, energy, water and military construction. Like any large, omnibus bill it has good features, among them: it proceeds with the long overdue Yucca Mountain nuclear storage facility, repeals the Obama Administration’s WOTUS order (which was already struck down by the courts), shifts $1 billion of mandatory spending to discretionary and upgrades our nuclear arsenal. But it is a fiscal train wreck. It continues the Congress’ profligate spending that threatens...
April 27, 2018 Speeches
I have offered this amendment whenever the opportunity has presented itself, because it tests whether there is any program in the federal budget that Congress can bear to cut.
April 26, 2018 Speeches
In December, we adopted one of the most important tax reform laws in our nation’s history. It is producing higher wages, better job opportunities, and greater economic expansion than we’ve seen in a decade. But having cut taxes, we assumed an urgent responsibility to restrain spending. Taxes and debt are two sides of the same coin. A debt is simply a future tax. Once we’ve spent a dollar, we’ve already decided to tax it, either now or in the future. It’s the spending that’s the problem.
April 10, 2018 Speeches
It’s important to ask ourselves how the tax reform is doing, and I thank my colleague for organizing this time tonight. In my district, the average family is paying $1,900 LESS federal income tax this year – which means $1,900 MORE they can spend to meet their needs.
March 22, 2018 Vote Notes on Legislation
This is the $1.3 trillion “Omnibus” bill that increases discretionary spending a staggering 18 percent in a single year, puts us on course for a trillion dollar deficit next year and sets the stage for a sovereign debt crisis within the next few years.
February 22, 2018 Speeches
For years, I’ve only been able to report to you what we SHOULD be doing to revive the economy. Today, FINALLY, I can report to you what we HAVE done – and THAT it is working.
February 9, 2018 Vote Notes on Legislation
This measure abandons any pretense of fiscal responsibility and increases federal spending caps by nearly $300 billion ($2,400 per household) over the next two years. It sets up a structure that will allow Congress to bypass its own budget rules...
January 18, 2018 Speeches
With the bill now taking effect, I believe people are about to see their paychecks grow, their job prospects brighten, and their family finances improve.
December 19, 2017 Speeches
I opposed the House version of the tax reform bill because the loss of broad-based deductions like state and local taxes would have caused significant tax increases on many of my middle-class constituents in the high-tax, high-cost state of California. It increased the marginal tax rate on high income earners and abolished life-line deductions such as casualty loss, medical expenses and student interest. I urged that we should leave no taxpayer behind. I want to thank Chairman Brady, the Republican Leadership and the conference committee for heeding these concerns. Their final product exceeds my expectations, and on behalf of California taxpayers I can now offer my enthusiastic support. The new version leaves the casualty loss, medical expense and student interest deductions intact.