Congressman Serrano on President Obama’s Budget Proposal for FY2016
Washington, DC - Today, Congressman José E. Serrano, Ranking Member of the House Appropriations Financial Services and General Government Subcommittee, released the following statement on President Obama’s Fiscal Year 2016 Budget proposal:
“President Obama has presented Congress with a balanced proposal focused on strengthening and expanding the middle class, and creating a 21st century economy where everyone wins—not just a few rich individuals and corporations.
“The President wants to make sure that, as we reap the benefits of the economic progress we have made in recent years, we choose to invest in the areas that will allow our economy to continue growing in the future – infrastructure, education, scientific research and innovation, entrepreneurship, and the middle class. Investing in these areas will help create jobs and boost America’s competitiveness in the global economy.
“As Ranking Member of the House Appropriations Financial Services and General Government Subcommittee, I am glad to see that his plan includes increased funding for the Securities and Exchange Commission (SEC), the Internal Revenue Service (IRS), and for construction by the General Services Administration (GSA). More funding for the SEC and the IRS will allow these two key government agencies to better serve American taxpayers. Increased funding for the General Services Administration will help create construction jobs and strengthen government operations throughout the nation.
“As a member of the Commerce, Justice and Science Subcommittee, I am pleased that the President’s proposal includes increased funding for legal defense initiatives in underserved communities, community policing initiatives, and the enforcement of the Voting Rights Act. I also strongly support the President’s proposal to increase the National Science Foundation’s budget by $379 million to $7.7 billion. This increase will help fund investments in STEM research and clean energy.
“As a new member of the House Appropriations State and Foreign Operations Subcommittee, I am particularly pleased that the President included robust funding for our global health and international humanitarian aid programs. By providing adequate funding to initiatives such as Power Africa and Trade Africa, the United States will be able to improve the lives of millions of people in the African continent. Finally, I am pleased that the President’s proposal allocates $1 billion in financial aid to Central American countries in order to help them address economic, governance, and security challenges.
“I am also glad to see his plan proposes getting rid of sequestration, which only hurts our ability to fund vital national programs. Sequestration has greatly harmed our nation’s ability to compete and left important government agencies in desperate need of further investment. This budget proposal allows us to adequately invest in important health, education, consumer protection, infrastructure, research and innovation, and many other areas.
“President Obama’s proposal increases spending in key areas, reduces our budget deficit in the short term, and guarantees that it remains stable in the long term. The President’s budget achieves this goal by reforming a wide range of tax and spending programs, including the way wealthy individuals and corporations are taxed so that we have a more fair and balanced system in place. All in all, the President’s proposal would reduce cumulative budget deficits by $1.8 trillion over ten years.
“I look forward to discussing these aspects and many other aspects of the President’s proposal through the Appropriations process on the Financial Services; Commerce, Justice and Science (CJS); and State-Foreign Operations subcommittees.”