Cornyn: Fiscal Responsibility Paramount To Nation’s Economy

WASHINGTON—U.S. Sen. John Cornyn, a member of the Senate Finance Committee, today participated in the White House Fiscal Responsibility Summit, where he was joined by many of his colleagues to discuss the current state of our economy and the long-term fiscal challenges our nation faces. Sen. Cornyn reiterated his solution for getting our economy back on track, which includes low taxes, free trade and pro-growth policies to support America’s small businesses and middle-class families.

“I appreciated the opportunity to meet with President Obama, his advisers, members of the Cabinet, dozens of my colleagues from both sides of the aisle, and experts in the field to discuss our ideas on how best to boost our economy. With a budget deficit that is quickly approaching $2 trillion, an unstable housing market, and our national unemployment rate standing at 7.6 percent, our nation faces enormous challenges. It’s important that we proceed forward in a deliberate and thorough fashion to put policies in place that move us toward accomplishing our shared goal of getting our economy back on track,” Sen. Cornyn said.

“One thing is certain – raising taxes would doubtless be a step backwards, and this includes allowing the tax relief passed in 2001 and 2003 to expire. While I appreciate the President’s intentions to reduce the deficit, I will not support raising taxes on hard-working Americans to do this. By keeping taxes low, working families and small businesses will be able to keep more of their hard-earned money in their pocketbooks, enabling them to spend and invest as they see fit. Congress must work to pass policies that will help create jobs here at home, generate economic growth, and eliminate wasteful government spending. These are the principles that will guide me in the weeks and months ahead.”