May 29, 2005

CRAPO: BUDGET AGREEMENT CUTS DEFICIT

Washington, DC â?? A $2.6 trillion budget outline approved last night by both the House and Senate is a good starting point towards moving the federal government back into the black, according to Idaho Senator Mike Crapo. Crapo, a member of the Senate Budget Committee, says the most important element of the budget outline is a renewed effort to slow the growth of government which will be paid by future generations.â??I support this effort because it reflects a move to cut spending and curbs the appetite of some who want to continue the tax-and-spend mode in Congress,â?? Crapo said. â??This budget outline proposes to cut the deficit in half in less than five years and it caps discretionary spending. Most importantly, it continues the tax policies that have set the economy back in a growth mode following the 9/11 terrorist strikes and the resulting dip in the stock market.â??The conference report passed the Senate last night on a vote of 52 to 47; it passed the House on a vote of 214 to 211 earlier on Thursday. The budget resolution does not require the Presidentâ??s signature and will now serve as a guideline for the appropriations work underway in Congress. # # #