WASHINGTON, D.C. - Third District Congressman Jon Porter issued the following statement in response to this morning’s announcement by the White House Office of Management and Budget that this year’s budget deficit is projected to be $333 billion, which is $94 billion less than originally predicted last February:

“We get more good news about our economy every day, and more proof that the comprehensive tax cuts passed by Congress under the Bush administration are working.  Last month, we learned that in May alone, 4,700 new jobs were created for Nevadans, bringing the total number of new jobs created in our state over the past year to 77,000.  Last week, we learned that in the month of June, our national unemployment rate dropped to five percent, the lowest level since the September 11, 2001 terrorist attacks, and our state unemployment rate for the month of May was even more impressive at four percent.  Today, the Office of Management and Budget announced that this year’s budget deficit forecast has been dropped to $333 billion, well under the $427 billion originally predicted.  This revised number is due to increased tax revenue, which can be directly attributed to the fact that more Americans are getting back to work, and, because of recent tax cuts and incentives, more Americans are seeing an increase in their income.  While this is encouraging news, we must continue to work towards lowering the deficit even more.  We must also ensure that we continue on the road to economic recovery by making permanent the tax breaks that have facilitated the progress we’ve made so far.”

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