Chocola Praises Reduction in Deficit Credits Pro-Growth Economic Policies and Fiscal Discipline

Chocola Praises Reduction in Deficit Credits Pro-Growth Economic Policies and Fiscal Discipline

Today, Congressman Chocola praised the announcement by the Office of Management and Budget that its deficit forecast for the year had decreased from $423 billion to $296 billion, 30% below the earlier estimates. Pro-growth economic policies, supported by Chocola, have led to a rapidly expanding economy, increased federal tax revenue, and over five million new jobs.

"Our efforts to reduce the tax burden on families and small businesses, and to hold the line on spending are showing results," said Chocola. "This report is proof that we are making progress on behalf of the American taxpayers to eliminate the deficit."

The expanding American economy has led to a surge in tax revenue for the federal government, contrary to the arguments of those who supported raising taxes. Receipts are now projected to increase by $246 billion this year, a growth of 11%. This increase in tax revenue, coupled with fiscal discipline championed by Chocola, has cut the deficit by $127 billion, and puts the country ahead of schedule to eliminate the deficit.

Chocola said, "When American families and small businesses get to keep more of their hard earned money, they spend and invest, resulting in economic growth and higher tax revenue that can be used to pay down the deficit. It is essential that we continue these pro-growth policies over the coming years to keep the economy strong and eliminate the deficit."

Congressman Chocola has been a leader in the fight for pro-growth and fiscally responsible policies that benefit Hoosier families and small businesses during his time in Congress.

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