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Chairman Yarmuth Statement on CBO Baseline

Jan 28, 2020

Washington, D.C.— Kentucky Congressman John Yarmuth, Chairman of the House Budget Committee, issued the following statement on the release of the Congressional Budget Office’s (CBO’s) updated budget and economic outlook

“The budget baseline released by CBO today confirms that President Trump’s economic policies did not create a sustained boost for the economy like he has claimed. The Republican 2017 tax law blew a $1.9 trillion hole in the debt and has exacerbated our long-term fiscal challenge. At the same time, Republicans have failed to address the deficits we face in the real economy, including skyrocketing health care costs, widening economic inequality, and a changing climate. House Democrats are committed to improving our fiscal outlook by making responsible investments that reflect our nation’s values and promote a stronger economy.”

Tomorrow morning, the House Budget Committee will hold a hearing with CBO Director, The Honorable Phillip Swagel, on the latest baseline.