Tax Relief and Sound Economic Policies Lead to Lower Federal Deficit Projection
Congressman Gerlach reiterates his call to make tax cuts permanent and supports giving the Office of the President line-item veto power
Washington,
Jul 11 -
Congressman Gerlach released the following statement today after the White House Office of Management and Budget issued a report indicating that the federal deficit for the fiscal year ending Sept. 30, 2006 would be roughly $127 billion less than previous estimates.
“This is excellent news and further proof that the tax relief and sound fiscal policies this Congress pursued are moving the economy in the right direction. We’re well on our way of cutting the deficit in half by 2008 – one year earlier than the goal set by the President and shared by this Congress,” Rep. Gerlach said. “From the devastating hurricanes that ravaged our country last year to our on-going efforts to fight terrorism around the globe, we’ve faced some considerable challenges as a nation yet we’ve managed to still lower the deficit projections by nearly 30 percent. We have a lot of work ahead to curb wasteful spending and must make available to this President and all future Presidents tools like line-item veto power to help with this job. We should be encouraged by this news and appreciate what the policies enacted so far have been able to accomplish.”
