Matheson: Both Parties Gutless on Budget Enforcement

Press Release

Matheson: Both Parties Gutless on Budget Enforcement

Congressman Matheson today condemned passage of legislation that ignored House budget enforcement rules in place for the past 12 months and added billions to the federal debt.

Two earlier versions of the legislation to solve a problem with the Alternative Minimum Tax—an antiquated tax system that will unintentionally snare millions of unsuspecting taxpayers next year—complied with House pay-as-you-go rules. But the Senate refused to pass the fiscally responsible bills. Matheson, as a member of the Blue Dog Democrats, fought to restore the budget enforcement rules and he said today's action mars the year's clean record of not adding to the federal debt.

"What are we doing to our children and our grandchildren? The federal debt continues to climb at a rate of about $1 million per minute. The Blue Dogs may be the last ones standing who put their money where their mouths are when it comes to fiscal responsibility," said Matheson.

Matheson scoffed at claims that the tax hit was "unexpected." He noted that the administration has been counting on the revenue raised by the AMT in future balanced budget predictions.

"Ask any Utah business owner how long he or she will be in business without a plan to pay the bills and stay solvent. Ask any Utah family what happens when you borrow more than you can repay. Since 2001, we have increased the public debt by $3 trillion to a mind-numbing total of $9.1 trillion. Every man, woman and child in this country owes more than $30,000. The day of reckoning will come if we continue to live beyond our means," said Matheson.

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