‘Now is not the time to raise taxes,’ McConnell says



Washington, D.C. – U.S. Senate Republican Leader Mitch McConnell made the following statement after the Office of Management and Budget released the Mid-Session Review showing the deficit continues to shrink because of Republican pro-growth economic policies:



“Today’s mid-session review by the Office of Management and Budget is another sign the economy is strong and growing. Republican pro-growth policies are lowering the budget deficit and ensuring hard-working Americans keep more of what they earn. Now is not the time to reverse course and adopt the Democrats’ tax-and-spend policies, which will increase the size of government, stunt economic growth, and unfairly strain America’s working families.”



Background

The Office of Management and Budget announced Wednesday the fiscal year 2007 federal budget deficit is expected to drop to $205 billion by September, a 50 percent drop in 3 years. The pro-growth economic policies enacted by President Bush and Congressional Republicans are increasing government revenue while lowering taxes for American families and small businesses.



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