Hoyer Hopes For Bipartisan Budget Agreement

By Philip Bunnell

House Minority Whip Steny Hoyer (D-Md.) expressed hope Monday that lawmakers can sidestep partisanship and land on a budget compromise.

History is filled with stories of great powers humbled by their debts, overwhelmed not only by money owed, but by infighting, paralysis, and a failure to engage in reality before it was too late; that can be our story as well,” cautioned Hoyer during an appearance at the Bipartisan Policy Center. “But it does not have to be nor should it be.” 

Hoyer, acknowledging that both parties compounded the deficit, added that solving the fiscal crisis “can be the next great accomplishment in the unique history of this nation.”

Hoyer cited economic prosperity of the 90s as evidence that a Republican Congress and Democratic President can work together by making concessions with each other and holding common goals.

Although Hoyer separated himself from Congressional Republicans by arguing that the U.S. needs to uphold entitlement programs, such as Medicare, he argued that “everything needs to be on the table,” in terms of cutting discretionary spending, including the Pentagon’s budget.   While Hoyer indicated that he wanted America to have a strong military, he said that even Admiral Mike Mullen was in support of Defense cuts.

The Maryland Democrat also proposed broadening the tax base, eliminating tax loopholes, and simplifying the income tax code. 

Hoyer rejected the conservative rallying cry dating back to Ronald Reagan that tax cuts for the wealthy are beneficiary to everyone and reduce spending.  Hoyer pointed out that Reagan’s economic plan “did not prevent the massive recession that hit the United States the following year, which led to the loss of 2.8 million jobs.”  Reagan then raised taxes 11 times in response, Hoyer observed.