WASHINGTON, D.C. - Ways and Means Committee Chairman Charles B. Rangel (D-NY) issued the following opening statement during today’s full committee hearing with Office of Management and Budget (OMB) Director Jim Nussle on President Bush’s budget for fiscal year 2009:
"Director Nussle, welcome back to the Ways and Means Committee. I hope that Congress and the Administration can build on the recent bipartisan success of the economic stimulus package and continue working together to determine what we can accomplish this year.
"I find it disappointing that the Administration’s budget includes many proposals that have been rejected in previous years, but your positions - or lack thereof -- on tax policy are particularly troubling. Despite all of the talk about how Congress cannot allow the alternative minimum tax (AMT) to hit millions of additional taxpayers, the Administration assumes the AMT hits these families and uses the revenue to bring its budget to balance and hide the true cost of its policies.
"Perhaps the most disappointing component of this budget is what the Administration continues to ignore - the pressing need for comprehensive tax reform. This Administration has been in office for more than seven years and it has failed to provide any leadership on the critical issue of simplifying our tax code. This is more than a missed opportunity, it is a downright shame that the Administration has not advanced concrete proposals, or even a willingness to participate in discussions, on how to reform our tax laws and eliminate the dangerous AMT or cut our corporate tax rate. I am confident that, if the Administration put forth the same effort on tax reform as it did on extending its tax cuts for the wealthiest Americans, we could come together to simplify our laws and restore a greater sense of equity and fairness to our tax code.
"This budget may be a precise political document, but it fails on a number of policy fronts. I hope we can find something positive to accomplish together during the Administration’s final months in office. I have worked with Ranking Member McCrery to change the tone in this Committee and set an example for the Congress and I hope that we can work with you as well."
