Congressman Pence Discusses the Republican Budget on FOXNEWS' America's Newsroom

Congressman Pence Discusses the Republican Budget on FOXNEWS' America's Newsroom

APRIL 2, 2009


Alisyn Camerota: Well, Molly just mentioned Republicans are giving a second opinion on the budget, introducing their own spending plan, but with some very big differences. Indiana Republican Mike Pence is Chairman of the House GOP Conference Committee. Good morning, nice to see you.
 
Rep. Pence: Good morning.
 
Camerota: So tell me, you and your colleagues have been hard at work for an alternative budget from the President's. How is yours different?
 
Rep. Pence: Well under the strong leadership of Paul Ryan and our Budget Committee, we're going to bring a budget to the floor that spends less, borrows less, and instead of raising taxes on virtually every American as the Democrat budget does, we're actually going to cut taxes to encourage the kind of growth that has always been the mainstay of economic recovery in this country.  There's also even a more conservative budget, the Republican Study Committee, I'm a cosponsor of that budget as well.  So Republicans are coming forward with ideas as the Democrats go with a budget that spends too much, taxes too much, and borrows too much. Republicans are going the opposite direction, Alisyn, sailing toward a balanced budget with fiscal discipline and the time-honored principles of growth and reform.
 
Camerota: Ok, so one of the tenets of your budget, as you just said, is to cut taxes for the wealthiest Americans but you know there is so much outrage right now against these financial fat cats and Wall Street executives. Is now really the right time to reward them?
 
Rep. Pence: Well look, John F. Kennedy knew, Ronald Reagan knew - The way to get an economy moving in a recession is to give the America people, small business owners, and family farmers more of their hard earned tax dollars to spend. The Democrat budget by contrast, Alisyn, actually contemplates over a trillion dollars in tax increases over the next several years. That's not a prescription for recovery-that's a prescription for economic decline.
 
Camerota: Sure, but family farmers are different than these Wall Street executives that make millions and millions of dollars and you would cut their taxes as well?
 
Rep. Pence: Well, we're talking about capital gains tax relief, you're absolutely right. We're talking about the kind of taxes that are going to help small business owners. But remember, in the Democrat budget, they're talking about a national energy tax that'll result in higher utility rates of more that $3000 on every household in America. And those marginal rates that the President's budget wants to raise - more than half of the people that file taxes over the level that's going to see higher taxes are actually small business owners, filing as individuals.
 
Camerota: Ok so if you cut taxes on the rich, how does your plan fund Medicare?
 
Rep. Pence: Well, the way that we find Medicare in the Republican alternative is by funding it as a priority. You're not going to see any cuts in Medicare but you are going to see reforms in Medicare that are going to lesser the burden on that baby that's squaloring just down the way. You know, the reality is here is that we hear a baby cry - it might be appropriate in the debate today on Capitol Hill because we are going to double the national debt on our children and grandchildren in 5 years and we're going to triple it in 10 years if the Democrat budget passes. We need to be standing for fiscal discipline and reform, for the kind of entitlement reform that is going to take the burden off future generations and for the kind of tax relief that's going to get this economy moving again.
 
Camerota: Allright, Congressman Mike Pence. We'll see if this all was just an academic exercise that you just went through, or if some of it does sneak into the Democratic budget today. Thanks for coming on.
 
Rep. Pence: Thank you, Alisyn.