Congressman McCaul Votes Against Obama Budget

AUSTIN – Congressman Michael McCaul (R-TX 10) stood up for the taxpayers in his district by voting against President Obama’s and Speaker Pelosi’s $3 trillion a year budget. Over the next five years it doubles the national debt. Over the next 10 years, it triples our debt and raises taxes by $1.4 trillion.

"America is in a recession, and history has proven that we cannot spend, borrow and tax our way to prosperity," said Rep. McCaul. "We cannot pass a budget that will dig a deeper financial hole and impede our country’s long-term progress."

Please click here to view Congressman McCaul’s speech against the budget on the House floor.

Spends $4.8 trillion less than the Democrats’ budget over 10 years

Brings spending back down to 20.7% of GDP, in line with the historical average, instead of climbing to 24.5% of GDP as proposed in the Obama budget

Freezes non-defense/non-veterans spending, instead of increasing non-defense spending by more than 9% as proposed in the Obama budget

Borrows $3.6 trillion less than the Obama budget over 10 years

Increases the Defense budget by $5 billion over the cuts in the Obama budget

Increases Veterans funding by $540 million over the President’s budget

Institutes pro-growth tax cuts instead of $1.5 trillion in tax increases on small businesses and families as proposed in the Obama budget

Creates 2.1 million more Jobs than the Democrats’ Budget

Suspends capital gains taxes through 2010 instead of increasing taxes on investment

Institutes needed entitlement reforms to ensure the long-term solvency of Social Security and Medicare

"The President has said that digging our way out of this economic crisis won’t be easy and will take time. While we can agree on the scope of this challenge and the effort it will take to recover, the Republican budget plan will move Americans toward prosperity without spending record amounts of taxpayer dollars and without increasing the tax burden on families and businesses," said Rep. McCaul.

"Our plan will balance re-instituting the basic principles of limited government and personal responsibility, with meeting our most critical needs. I look forward to a healthy, bipartisan debate."

Congressman McCaul voted in favor of the Republican alternative budget, House Continuing Resolution 85, titled The Path to American Prosperity. This blueprint for economic recovery keeps spending and debt under control, keeps taxes low, and still addresses the country’s core needs. A comparison of the Democrat and Republican includes: