Fiscal Responsibility | The Office of Majority Leader Steny Hoyer

Democrats have led the fight to restore fiscal responsibility. Deficits and debt are a serious long term problem that will require tough choices to address. As Democrats work to invest in economic recovery and job creation, we are also working to ensure our country is on a path to a sustainable fiscal outlook.

Unfortunately, President Trump and Republicans have adopted fiscally irresponsible policies that are exploding deficits. President Trump also signed into law the GOP tax scam after Republicans jammed it through the last Congress without a single hearing. The law gave a massive, unpaid-for tax handout to the wealthiest Americans and large corporations while exploding the deficit and leaving our nation with ballooning deficits. House Republicans have repeatedly held our economy hostage to their ideological agenda, whether creating artificial “fiscal cliffs,” shutting down the government, or bringing our nation to the brink of defaulting on its obligations.

Democrats are committed to reducing the deficit in a responsible way. Both parties must work together to strengthen our entitlements; help support job creation; and protect the middle class, seniors, and the most vulnerable. To restore our country’s fiscal sustainability, we must adopt a balanced approach that includes both responsible spending cuts and increased revenues. Democrats have restored the pay-as-you-go law, which requires Congress to find a dollar of savings for every dollar it spends, and which helped create budget surpluses under President Clinton.

Fiscal Responsibility Related

The Trump Budget is a Continuation of Broken Promises to Working Families

Yesterday, the President released his budget proposal for Fiscal Year 2021 and made his priorities clear: he continues to put the wealthiest Americans first at the expense of working families. The budget proposal makes tax cuts for the wealthy permanent while breaking his promises to working families on health care, the economy, and other areas that help Americans get ahead and keep them safe.

2/11/20

President Trump’s Broken Promises to the American People

The President campaigned on numerous promises to the American people, and four years into his presidency, he is letting the American people down on pledge after pledge. Ahead of tonight’s State of the Union Address, here’s a look at what the President promised he would deliver to the American people and how he has fallen short with policies that put the wealthiest ahead of working families:

2/4/20

Hoyer Statement on Trump’s Trillion Dollar Deficits

As a result of the 2017 Republican tax scam, in which Republicans gave massive tax cuts to the wealthiest at the expense of everyone else, the nonpartisan Congressional Budget Office (CBO) now expects permanent trillion-dollar deficits. While President Trump and his allies promised that the tax cuts would yield 6% GDP growth and pay for themselves, the reality is today is slower economic growth and trillions in new debt left to our children and grandchildren.

1/28/20

Hoyer Statement Calling for Pay Parity for Federal Civilian Employees

The Trump Administration’s announcement of its intent to provide a smaller pay adjustment to the federal civilian workforce in 2020 than what House Democrats have proposed is just one more example of how little regard it has for federal civilian employees who work for the American people every day.

8/31/19

Hoyer Statement on the Congressional Budget Office's Long-Term Outlook Report

I continue to be deeply concerned about the legacy we are leaving to future generations through our unwillingness to tackle growing budget deficits and mounting debt.

6/25/19

Hoyer Statement on the SECURE Act

The SECURE Act will help American workers and their families save for a secure retirement, and I am proud to bring it to the Floor today for a vote in the House.

5/23/19

House Democrats Put American Consumers First

Today the House passed H.R. 1500, the Consumers First Act, introduced by Financial Services Committee Chairwoman Maxine Waters (CA-43). This bill reverses the Trump Administration’s actions to undermine the Consumer Financial Protection Bureau (CFPB).

5/22/19

GOP Quote of the Day

Remember when Republicans claimed to be the party of fiscal responsibility?

9/11/18

The biggest losers? American workers.

We’re all for smart enforcement actions against unfair trade practices, but President Trump’s actions to date have completely missed the mark.

6/26/18

Hoyer Statement on the Congressional Budget Office's Long-Term Budget Outlook

The Congressional Budget Office’s (CBO) long-term outlook shows for the first time the consequences beyond the ten-year budget window of the Republican-led Congress’s tax breaks for the wealthiest.

6/26/18

SMH.

SHOT:

6/8/18

Statement

Hoyer: This Rescissions Package Is A Sham

First, let me say, I heard the Gentleman from Georgia’s argument that this money wasn't needed. I heard that argument a month ago: Ebola money was not needed. Guess what? Ebola money was needed.

6/7/18

Hoyer Statement on the Social Security and Medicare Board of Trustees Report

It is alarming to learn that Medicare will become insolvent in 2026, just eight years from now and three years earlier than previously projected, and that Social Security’s total cost will exceed its total income this year for the first time since 1982, scheduled to become insolvent in 2034.

6/5/18

Hoyer: The Trump Administration Seems to Be Doing the Best Job at Making the Argument Against Its Own Rescissions Proposal

The Trump Administration seems to be doing the best job at making the argument against its own rescissions proposal. After an outbreak demonstrated the importance of emergency ebola funding, it dropped its request to rescind those funds.

6/5/18

“The country’s debt load is seen spiraling”

Today’s can’t miss headline: U.S. Lifts Debt Sales as Deficit Grows, Plans 2-Month Bills

5/2/18

Leader's Report

House Democrats Conclude Third Make It In America Listening Tour

Last week, I completed my third Make It In America Listening Tour with stops in Madison, and Eau Claire, Wisconsin along with Reps. Mark Pocan and Ron Kind.

4/13/18

Statement

Hoyer: Republicans’ Balanced Budget Amendment Is A Sham, A Fraud, A Pretense of Fiscal Responsibility

I thank the Speaker. I thank the Chairman. Ladies and gentlemen, I rise today not so much to oppose this legislation, as to deride it, as a sham. As a fraud. As a pretense of fiscal responsibility.

4/12/18

Hoyer Statement on the Third House Vote on the Defense Appropriations Bill

Today, the House was asked to vote a third time on a defense appropriation bill before reaching a bipartisan agreement on budget caps for the fiscal year. Democrats strongly support robust funding for our military, and we agree with Pentagon leaders who have said that budget uncertainty hinders military planning and readiness – but it also damages every other government agency as well.

1/30/18

Hoyer Statement on Trump’s Shutdown Comments

“President Trump seems to forget that, with Republican majorities in the House and Senate, he and his colleagues control all the levers of our government.

12/6/17

Hoyer Statement on the Appointment of Jerome H. Powell to Serve as Chair of the Federal Reserve

I’m encouraged that President Trump has appointed Jerome H. Powell to chair the Federal Reserve.

11/2/17

In case you aren't listening to Floor debate...

Just now on the Floor, Rep. Steve Womack (R-AR) said:

10/5/17

Hoyer: This Budget Is Merely a Vehicle for Tax Cuts for the Wealthy at the Expense of the Middle Class

Mr. Speaker, the Budget Act adopted in 1974 requires that the House complete work on its budget for the next fiscal year by April 15. That's 172 days ago.

10/4/17

Hoyer Remarks at Press Conference with House Democrats Opposing Legislative Gimmick That Adds Funding for Trump’s Border Wall

Rep. [Ruben] Gallego, thank you very much for inviting us to this press conference. I had a colloquy on the Floor with the Majority Leader last week, and I asked him whether or not we were going to have the issue of the border wall that was going to be open for amendment and open for debate.

7/25/17

The Do-Nothing Republican Congress

Republicans control the House, the Senate, and the White House, and they have a responsibility to govern and deliver results for the American people. Yet, over halfway through the year, Republicans have no major legislative accomplishments.

7/19/17