WASHINGTON, April 5, 2011 /PRNewswire-USNewswire/ --- The following is a statement by former Senate Budget Committee Chairman Pete Domenici and former White House Budget Director Alice Rivlin, co-chairs of the Bipartisan Policy Center's Debt Reduction Task Force, on the 2012 budget resolution released by House Budget Committee Chairman Paul Ryan today:
"We applaud House Budget Committee Chairman Paul Ryan for putting forth a detailed budget plan, which rightly addresses Medicare and Medicaid. Chairman Ryan's ongoing leadership in facing up to our looming debt crisis remains critical as the debate moves forward. While we don't agree with all his specific proposals, we admire his courage in aggressively taking on the major entitlement programs. Chairman Ryan has accurately acknowledged that we must address the largest drivers of our nation's debt if we want to restore fiscal responsibility.
"While Chairman Ryan's budget includes a comprehensive plan on spending, as well as proposals for tax reform, it fails to address the need for new revenue. Like our Debt Reduction Task Force at the Bipartisan Policy Center and the president's own National Commission on Fiscal Responsibility and Reform have acknowledged, a bipartisan, comprehensive debt reduction plan, which includes both spending and revenue options, will be required to stabilize the nation's debt. We believe that new revenue can be generated with a simpler, fairer tax system favorable to economic growth and job creation."
Senator Domenici and Dr. Rivlin led a bipartisan task force of 19 former White House and Cabinet officials, former Senate and House members, former governors and mayors, and business and labor leaders, which released its bold, comprehensive plan to address the nation's debt crisis last November, titled Restoring America's Future.
About the Bipartisan Policy Center:
In 2007, former U.S. Senate Majority Leaders Howard Baker, Tom Daschle, Bob Dole, and George Mitchell formed the Bipartisan Policy Center (BPC) to develop and promote solutions that can attract the public support and political momentum to achieve real progress. Currently, the BPC focuses on issues including health care, energy, national and homeland security, transportation and economic policy. For more information, please visit our website: http://www.bipartisanpolicy.org/.
SOURCE Bipartisan Policy Center