Fiscal Cliff Update
by Pete Sessions on December 17, 2012 at 9:38 AM
Last week, House Republicans remained united in our desire to avoid the fiscal cliff and committed to a proposal that does not harm job creation, investment and innovation. Unfortunately, the President continues to insist on raising taxes on families and small businesses. I strongly believe that in order to get Americans back to work, we must allow the free-enterprise system to thrive.
Throughout negotiations, the President has failed to show willingness to make serious reductions in federal outlays. It is critical that we make spending cuts today to prevent our nation from continuing to have unsustainable levels of debt and annual deficits. Just before President Obama took office in 2009, White House figures show that the federal budget was $2.9 trillion. Next year’s estimated budget is over $3.8 trillion – a 31% increase in total federal spending in just four years. It is impossible to offset this level of spending by raising taxes.
You can watch my full remarks on the House Floor above. I will continue to stand up for small businesses and the American people by fighting to protect much-needed jobs from being lost. In the coming days and weeks, I will continue to update you on the fiscal cliff negotiations. To get the most up-to-date updates, follow me on Facebook and Twitter.