02.09.16

Hoeven Statement on President Obama's 2017 Budget

WASHINGTON – Senator John Hoeven today issued the following statement in response to President Barack Obama’s 2017 budget proposal:

“The budget that President Obama released today does not recognize the nation’s crucial need to get its fiscal house in order and is more of the same: more spending, more taxes and more government. Under the president’s budget the cost of living and running a business would increase because of his proposed $10 per barrel tax on crude oil. Spending would also grow, which would increase the deficit over the current year’s deficit and threaten the hard-earned progress we’ve made in reducing it since it peaked in 2009 at $1.4 trillion.

“In addition to increasing spending, taxes and the deficit, the president’s budget once again proposes undermining the number one risk-management tool for our farmers: crop insurance. Crop insurance has already been reduced by more than $12 billion since 2008. His budget would reduce premium support for crop insurance by another $18 billion after our farmers have already helped to reduce the deficit by nearly $24 billion in the most recent farm bill.

“Instead of this approach, we need to set the right priorities and get back to the basics. That means reforming the tax code so that it’s simpler and fairer; reducing the tax burden on families and businesses; supporting our military; and building a legal, tax and regulatory business climate to attract investment, create jobs and grow our economy.”

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