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Statement by Congressman McCaul on the House Republican Budget for FY'13

March 20, 2012

"The House Republican budget tackles the financial challenges that we face as a country head on. This budget consolidates, reforms, and lowers corporate and individual tax rates to just two brackets, reduces spending, and reforms entitlements. By exercising discipline in the ways that we spend and taking every opportunity to give job creators the freedom that they need to grow and be competitive in the global market, we can save future generations from bankruptcy and preserve vital programs as the safety net that they were meant to be.

"The budget crisis was a foreseen national disaster. It is unbelievable that the President and Democrats are willing to stand in the face of financial ruin and do nothing except spend more and tax more. The President's perplexing approach to budgeting halts job creation and is an insult to millions of Americans who have urged Washington to stop piling on to what is now a $15 trillion debt. The massive deficits we have racked up have set us on a dangerous course that imperils our solvency. I refuse to stand by and do nothing ."