KAINE STATEMENT ON “CUT, CAP AND BALANCE” VOTE IN THE SENATE
KAINE: “ALL CUTS, NO BALANCE” PROPOSAL ASKS EVERYDAY AMERICANS TO BEAR THE ENTIRE BURDEN OF SPENDING REDUCTIONS WHILE INSULATING BILLIONAIRES AND CORPORATIONS
Richmond, VA – In response to today’s Senate vote on the Republicans’ “Cut, Cap and Balance” legislation, Governor Tim Kaine released the following statement:
“I applaud the Senate’s rejection of the Republicans ‘All Cuts, No Balance’ legislation. By targeting programs like Medicare and Social Security for the deepest cuts while making it harder to ask wealthy individuals and companies to pay their fair share, the Republicans’ plan asks everyday Americans bear the entire burden of spending reductions while insulating billionaires and corporations from cuts.
“Instead, our country needs a truly balanced approach to fiscal responsibility that incorporates targeted spending cuts, increased revenue though closing tax loopholes on corporations who don’t need them and allowing the Bush tax cuts to expire for the wealthiest individuals and investments in education and infrastructure that will grow our economy.
“In 11 days, our country will reach its legal debt limit and, absent action in Washington, we will face drastic and lasting economic consequences. It’s time for Washington to put aside ideology-driven legislation like the “All Cuts, No Balance” proposal and do what is right for our nation: raise the debt ceiling to allow government to pay our bills and work toward a balanced approach to reducing spending and reducing the deficit.”
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