Tuesday, May 22 , 2018, 12:18 am | Fair 58º


Capps Backs President Obama’s Deficit-Reduction Plan

Congresswoman calls it a 'good starting point' for bringing the budget in line

Rep. Lois Capps, D-Santa Barbara released the following statement Wednesday in reaction to President Barack Obama’s speech on deficit reduction.

“I appreciate the president’s leadership on efforts to bring our budget in line. The issue is not whether we reduce the deficit, but how we do it,” Capps said. “The president’s plan would cut our deficit by some $4 trillion over the next decade and put us on a path to fiscal solvency, while keeping up our efforts on creating jobs. His plan calls for major cuts in spending, while recognizing that we have to be smart about where we cut. We have to keep investing in education, research and infrastructure project so our economy grows now and in the future, and under his plan we would.

“He also has wisely rejected the Republican plan to privatize Medicare that would end the program’s guarantee of affordable, quality health care for all seniors and misguided attempts by House Republicans to block grant Medicaid and push federal problems on to state budgets. And he has demonstrated that he understands that Social Security is not the driver of our huge deficits and should not be used to solve our budget problems.

“Finally, his plan calls for a major overhaul of our tax code, making it easier to navigate for everyday Americans, eliminating the tax loopholes that allow billion-dollar corporations to pay nothing in taxes and ending the Bush tax cuts for the wealthiest among us that we clearly can’t afford.

“Bringing down our deficit is a long-term project that will require sacrifice from all of us, but we simply must get on with it. I believe the president’s announcement today is a good starting point, and hope Democrats and Republicans can come together on a plan that works for all Americans.”

— Ashley Schapitl is press secretary for Rep. Lois Capps, D-Santa Barbara.


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