DeGette Statement on Obama Plan to Reduce the Deficit

DENVER – U.S. Rep. Diana DeGette issued the following statement today after President Barack Obama announced his plan to responsibly reduce the deficit. The President's plan achieves net savings of $3 trillion over the next decade, which is above and beyond the $1.3 trillion targeted by the debt Supercommittee, and more than enough to offset the cost of the American Jobs Act.

"This morning the President outlined a common-sense approach to fairly and responsibly reducing the deficit. His plan calls for shared sacrifice, reforming our tax code to ensure that middle-class families no longer pay a greater share of their income than the wealthiest Americans, while proposing sensible cuts from a broad spectrum of discretionary and mandatory programs. By closing special-interest loopholes and cutting spending through the tax code we can bring down rates, shrink the deficit, and provide certainty for small businesses looking to grow and expand in the 21st century global marketplace. For too long we have forced middle-class and low-income Americans to shoulder a disproportionate share of the deficit reduction burden, and I am pleased to see a proposal that would share the sacrifice to include even the wealthiest among us.

"Our first priority must remain reducing our nation's unemployment, and I urge my colleagues to take swift action on the American Jobs Act to get America back to work and then pass this proposal to get our fiscal house in order for the long-term."

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