TIBERI: PRO-GROWTH POLICIES BRING INCREASED REVENUE, LOWER DEFICIT
U.S. Congressman Pat Tiberi (R-12th) today applauded the Office of Management and Budget's (OMB) announcement of a lower than projected deficit. Republican pro-growth economic policies have cut the deficit in half over the last three years. The deficit was originally projected to be at $244 billion at the end of fiscal year 2007, but OMB announced the fiscal year is now expected to close with a deficit of $205 billion.
"Republican pro-growth policies, like keeping taxes low and being diligent to counter excessive spending, create a healthy economy, and this news of a decreased deficit is just one example of our responsible policy to create a better future for our country," said Congressman Tiberi, a member of the Ways and Means Committee that helps create tax policy. "I have always felt that money belongs back in your pockets and not in the hands of bureaucrats in Washington. We have to continue keeping taxes low and spend responsibly so we can continue to drive down this deficit. It's a responsibility we have to our children, we must leave them with a vibrant and growing economy."
During the past six years Republican-passed tax relief has returned $2 trillion to taxpayers and that has help fuel economic growth and job creation. The United States has experienced five straight years of economic growth creating 8.2 million jobs since August 2003.
These policies are a stark contrast to the ones being pursued by the Democrat majority. Their tax and spend proposals would likely raise taxes on a variety of individuals and businesses.