WASHINGTON, DC -- "When we formed The Coalition, our goal was to find common sense approaches to legislation without partisanship. I think this alternative budget we are unveiling today is the strongest move in that direction we've made so far," said Congressman Collin C. Peterson (DFL-7th District). Peterson is a sponsor of the alternative budget proposal, and vice-chair of policy for The Coalition.
"Our proposal is the most sensible of the two and it's close to what's being done in the Senate," said Peterson. "The Coalition proposal balances the budget by the year 2002, but it does it without a tax cut. It's not that we are against tax cuts, it's just that we feel like spending needs to be cut and the budget needs to be balanced before we cut taxes. Our proposal does include a Sense of the Congress Resolution that calls for tax cuts, if the deficit reduction goals of the resolution are met."
The Coalition's budget alternative puts back the $18.7 billion the Republican budget cuts from the Stafford Loan program. Stafford loans allow college students to defer interest payments on that loan until six months after they graduate.
"The Coalition budget also reduces the cuts to agriculture from $17 billion in the Republican plan to $4.1 billion over seven years," Peterson continued. "Agriculture has already sustained a 60 percent cut to it's programs since 1985, and it can't take much more if we want to keep the industry on its feet.
"Our alternative budget proposal was presented to the House Rules Committee today, and we are optimistic that the proposal will be allowed to come to the floor for a vote. It's possible we could get support from some of the Democratic Leadership, as well as some Republicans who are displeased with some of the priorities in the GOP plan. We feel like if House members are given the chance to vote on this budget proposal, it has a good chance of passing," Peterson concluded.