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Wednesday, April 23, 2008
OMB Watch Statement on FY 2009 Budget
OMB Watch released a statement on April 22 on the FY 2009 budget resolution negotiations. The statement urges both House and Senate negotiators to uphold the fiscally responsible principles promised by Democrats when they took over the majority in 2006. A key aspect of the ongoing budget negotiations is whether to offset the $70 billion cost of a one-year fix to the creep of the Alternative Minimum Tax (AMT). The House version of the resolution offsets the costs while the Senate does not.
OMB Watch was intensely critical of the president and Congress, particularly the Senate, at the end of last year when they abandoned PAYGO and passed a fix to the AMT that added over $50 billion to the tab of future generations. Congress has the opportunity to reverse course on this issue this week and make the difficult, but correct, choice to pay for their priorities. Let's hope they are able to muster the courage to do the right thing.
Posted by Adam Hughes
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