WASHINGTON - House Budget Committee Ranking Republican Paul Ryan (WI-01) called upon Congress to take action on a common sense plan to restrain government spending, prevent the imposition of a $3.8 trillion tax hike, and spur job creation. Earlier today, House Minority Leader John Boehner proposed a one-year freeze of government spending at 2008 levels and a two-year freeze of current tax rates.
In support of Leader Boehner's two-step job creation plan, Ranking Member Ryan issued the following statement:
“Washington's Neo-Keynesian economic experiment has failed, putting our exceptional nation on a path to our own lost decade. Uncertainty fueled by looming tax hikes and unsustainable levels of government spending continue to stifle job creation and stagnate growth. We must set a new course.
“Leader Boehner has offered an immediate plan of action to do just that: freeze non-security discretionary spending at FY2008 levels; prevent massive tax hikes on all Americans. This common sense plan marks the critical first steps to restrain the explosive growth of government and would provide much needed certainty for job creators to restart the engine of growth and prosperity.
“Just yesterday, the President's recently departed budget director joined the growing chorus of Republicans, Democrats, and respected economists in opposition to the looming tax hikes set to hit an economy that simply cannot afford it. We also cannot afford Washington's reckless spending spree, which is why Leader Boehner is exactly right to match his call to freeze taxes at their current rates with a proposal to cut and cap spending for the coming fiscal year. Earlier this year, Congressional Democrats gave up on a budget. With no budget, no priorities, and no restraints, it is irresponsible for Congress to jam through trillions more in record new spending followed by massive tax hikes in an attempt to pay for their profligacy. We cannot continue to chase ever-higher spending with ever-higher taxes.
“When the House returns next week, I hope there will be a bipartisan commitment to making Leader Boehner's common sense plan to restrain government spending and prevent the looming tax hike a top priority.”