Today, Congressman John Yarmuth (KY-03) issued the following statement in response to President Barack Obama's FY11 budget:
"As a member of the Ways and Means Committee, I look forward to working with the White House to enact policies outlined in this budget that will create jobs and provide tax cuts to small businesses and working families in Louisville," said Congressman Yarmuth.
The budget request released by the White House earlier today also includes $450 million for comprehensive literacy initiatives to lay the groundwork for of Congressman Yarmuth's Literacy Education for All, Results for the Nation (LEARN) Act. Introduced last year, the LEARN Act will create a new comprehensive national literacy initiative to cover students from early childhood to the end of high school.
"At a time when our nation needs forward-thinking investments, I am encouraged President Obama has proposed new funding for a comprehensive national literacy program. By enacting the provisions of the LEARN Act, we will build the foundation of a quality education that will help ensure America has the skilled workforce needed to compete in the global economy," said Congressman Yarmuth.
In addition, the President's budget request includes $4 billion to fund a National Infrastructure Innovation and Finance Fund to provide capital on infrastructure investments of national significance. Congressman Yarmuth championed such a fund during his first three years in Congress, authoring a letter to Speaker Nancy Pelosi in support of the proposal as a means to advance large scale initiatives like the Ohio River Bridges Project.
Also included in the President's Budget Request:
* Tax cuts for 1.6 million families in Kentucky
* A one-year elimination of the tax on capital gains from new investments by small businesses
* More than $844 million to train teachers and develop schools in Kentucky
* $4.5 billion to provide health coverage to low-income children and families in Kentucky.