Sept 19, 2011: Markey Statement on President Obama

WASHINGTON, D.C. – Congressman Edward J. Markey (D-Mass.), dean of the Massachusetts Congressional delegation and top Democrat on the House Natural Resources Committee, released the following statement today after President Obama sent his plan for economic growth and job creation to the Super Committee.
Reforming America’s tax code is not like figuring out the Da Vinci Code – there is no mystery that America wants billionaires and big oil companies to pay their fair share. The President’s proposal calls for a fair approach to debt reduction that balances spending cuts with new revenue. There are billions of dollars in unnecessary subsidies for the most profitable oil and gas companies that we should terminate, and billions in Bush-era tax cuts for the super wealthy that we should repeal. The only warfare being waged is by Republicans on America’s seniors and middle-class families when they insist on reducing our deficit solely through short-sighted cuts to investments that create jobs and benefit the lives of countless Americans. We need to reduce our deficit, and new revenue must be on the table.
Last week, Rep. Markey released a comprehensive new report, “The Debt Deal: Implication for Massachusetts”, that outlines how The Budget Control Act of 2011 and debt negotiations could have drastic impacts on Massachusetts’ economy. The report details what is at stake over the next decade for Massachusetts, including possible cuts to healthcare, the education system and small businesses.