Chairman's Press

10.20.23

Whitehouse: Republicans’ fixation on tax cuts for billionaires is driving up the national debt

Washington, D.C.—Today, the U.S. Department of the Treasury released a statement on the Fiscal Year 2023 budget results.    According to the statement, federal revenues fell to 16.5 percent of GDP last fiscal year, down from 19.3 percent in 2022.  Revenues have only been that low six times since 1962 (not including the period immediately following the Great Recession).  Even without the one-time drop in the deficit from the Supreme Court striking down President Biden’s student debt forgiveness … Continue Reading


10.18.23

Whitehouse: Making Health Care More Efficient Will Improve Quality of Care, Reduce Costs

Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing, titled “Improving Care, Lowering Costs: Achieving Health Care Efficiency.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley and members of the Committee, today’s hearing is about excess costs in health care and ways we can reduce the budget by spending health care dollars more efficiently. As I poin… Continue Reading


10.17.23

Proposed Cuts to IRS Enforcement Would Add $24 Billion to Deficit, CBO Finds

Washington, D.C.—The latest Republican effort to defund Internal Revenue Service (IRS) tax enforcement would increase the deficit by $24 billion, finds the nonpartisan Congressional Budget Office (CBO) in a new analysis provided to Senate Budget Committee Chairman Sheldon Whitehouse (D-RI). In an amendment that the Senate may soon consider to the minibus appropriations bill, Senator Rand Paul (R-KY) proposes cutting more than $25 billion from the IRS, a move that would help large corporations a… Continue Reading


09.27.23

Senator Whitehouse: We Can and Must Protect Medicare Without Cutting Benefits

Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing, titled “Medicare Forever: Protecting Seniors by Making the Wealthy Pay Their Fair Share.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley and members of the Committee, today’s hearing is about guaranteeing Medicare solvency by balancing the tax system so it’s less rigged and more fair — two good goa… Continue Reading


09.20.23

Whitehouse, Boyle Legislation to Protect Medicare for Seniors, Make Wealthiest Pay Fair Share Would Extend Solvency Indefinitely

Washington, D.C.—A new estimate from the Centers for Medicare and Medicaid Services Office of the Actuary, released today, finds that the Medicare and Social Security Fair Share Act would extend the Medicare Hospital Insurance trust fund’s solvency indefinitely by making the nation’s highest earners contribute a fairer share.  The legislation, which uses the same Medicare revenue proposals as those included in President Biden’s Budget Request for Fiscal Year 2024, was originally introduced by Se… Continue Reading


09.20.23

Chairman Whitehouse: Floor Remarks on Committee’s Bipartisan Investigation of Credit Suisse’s Nazi Ties

Washington, D.C.—Today, U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, spoke on the Senate floor about the Committee’s ongoing bipartisan investigation into Credit Suisse’s Nazi ties.  The investigation has exposed new details about Credit Suisse’s historical servicing of Nazi clients and Nazi-linked accounts, which in some cases continued until as recently as 2020, and has raised new questions about the bank’s role in supporting Nazis fleeing justice follo… Continue Reading


09.20.23

Senator Whitehouse: Economic Inequality Constricts Economic Growth and Undermines Economic Stability

U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing titled “Reducing Inequality, Fueling Growth: How Public Investment Promotes Prosperity for All.” Chairman Whitehouse’s remarks, as prepared for delivery: Ranking Member Grassley and members of the Committee, Today’s hearing is about how economic inequality impedes economic growth. Economic growth is essential for our nation and its people.  Fosteri… Continue Reading


09.19.23

Sen. Whitehouse Statement on House Republicans’ Budget Resolution

Washington, D.C.—Today, the Republicans on the House Budget Committee released the text of a budget resolution to be marked up tomorrow, September 20, 2023, just ten days before the end of the fiscal year. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, issued the following statement: “In June, Congress passed a bipartisan budget agreement—negotiated under MAGA Republican threat of a U.S default—that set spending levels for the next two years. That agreement was… Continue Reading


09.13.23

Bloomberg Law: Removing ‘Documented Dreamers’ Harms Economy, Senators to Hear

Laurens van Beek grew up in Iowa City, attended the University of Iowa, and landed a job at a DNA technology firm after graduation. But a year ago he was forced to leave the US for the Netherlands, a country he hadn’t visited since he was seven years old. About a quarter million “documented dreamers” in the US on dependent visas, like van Beek, are at risk of aging out of legal status when they turn 21 because their immigrant parents are stuck in the green card backlog or otherwise have no path… Continue Reading


09.13.23

Senator Whitehouse: Broken Immigration System Harms People, Reduces Economic Growth and Competitiveness

Washington, D.C.—U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing titled “Unlocking America’s Potential: How Immigration Fuels Economic Growth and Our Competitive Advantage.” Chairman Whitehouse’s remarks, as prepared for delivery: Co-Chairman Padilla, Ranking Member Grassley, Senator Lee and members of the committee, distinguished witnesses, and guests: This morning, we discuss the role that immi… Continue Reading


09.12.23

Senator Whitehouse’s Statement on Adjusting Topline Spending Limit for Minibus

Washington, D.C.—Today, consistent with the bipartisan agreement to avert default, Senator Sheldon Whitehouse (D-RI), Chairman of the Senate Budget Committee, adjusted the topline spending limit for the Appropriations Committee to allow this week’s minibus bill to proceed.  The Fiscal Responsibility Act, which passed in June of this year, lifted the debt limit and established spending caps for the next two fiscal years. It allows for extra funding above the caps on defense and nondefense spendi… Continue Reading


09.11.23

ICYMI: As Economy-wide Risks from Climate Change Pile Up, Senator Whitehouse Urges Action

Washington, D.C.—In case you missed it, Project Syndicate published an opinion piece today by Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, highlighting the mounting economic risks from climate change. Across ten Budget Committee hearings, central bankers, financial experts, economists, insurance executives, political leaders, and other thoughtleaders have testified that in addition to the immediate costs of emissions-driven natural disasters, climate change poses new syst… Continue Reading


08.17.23

Credit Suisse Failed to Fully Investigate Nazi-Linked Accounts, Full Report Confirms

WASHINGTON, D.C. – Persistent and bipartisan oversight by the Senate Budget Committee has exposed new details that show Credit Suisse’s internal investigation into its servicing of Nazi clients and their enablers was insufficient, allowing the bank to continue to obscure details of its historic servicing of Nazi clients and their enablers.  Pursuant to subpoena, the Budget Committee obtained records, which it released in April 2023, that brought to light new evidence … Continue Reading


08.03.23

Sen. Whitehouse: “It is a straight line from Republicans’ manufactured debt crisis to Fitch’s downgrade”

WASHINGTON, D.C.— Senator Sheldon Whitehouse (D-RI), Chairman of the Senate Budget Committee, issued the following statement on the recent decision by Fitch Ratings.  “It is a straight line from Republicans’ manufactured debt crisis to Fitch’s downgrade. Years of Republicans’ debt limit brinkmanship, showering billionaires with tax giveaways, and campaigning for economic default have come with a heavy price.  Once again, Americans are being stuc… Continue Reading


07.28.23

NEWS: New GAO Report Finds Retirement Savings Stagnate for Middle-Class Americans, While the Wealthy See Huge Gains

WASHINGTON, D.C. - According to a new report-commissioned in 2020 by Senators Bernie Sanders (I-Vt.), Chairman of the Health, Education, Labor, and Pensions Committee, and Sheldon Whitehouse (D-R.I.), Chairman of the Committee on the Budget, and released yesterday by the Government Accountability Office (GAO)-the gap in retirement account balances between middle- and high-income older households more than doubled from 2007 to 2019. While the median account balance for high-income older household… Continue Reading


07.27.23

Phillip Swagel Reappointed as Director of Congressional Budget Office

Today, House and Senate leadership re-appointed Dr. Phillip Swagel to a second four-year term as Director of the nonpartisan Congressional Budget Office (CBO). As required by the Congressional Budget Act, the appointment was made jointly by Speaker of the House Kevin McCarthy (R-CA) and President Pro Tempore of the Senate Patty Murray (D-WA), upon the joint recommendation of House Budget Chairman Jodey Arrington (R-TX) and Senate Budget Committee Chairman Sheldon Whitehouse (D-RI). "Dr. Swagel… Continue Reading


07.26.23

Sen. Whitehouse: Climate change is placing unprecedented strain on our nation’s infrastructure

Washington, D.C.-U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today's hearing, titled "Beyond the Breaking Point: The Fiscal Consequences of Climate Change on Infrastructure." Chairman Whitehouse's remarks, as prepared for delivery: Ranking Member Grassley, members of the committee, witnesses, and guests, welcome to the tenth in our series on the enormous economic dangers of climate change to the federal b… Continue Reading


07.20.23

House Republicans’ Cuts Would Cost Jobs, Slow Economic Growth, CBO Finds

Washington, D.C. - Reneging on the bipartisan budget agreement that was signed into law to avoid a catastrophic default, House Republicans are proposing cuts to Fiscal Year 2024 spending bills that would cost a half a million jobs and reduce GDP growth by $138 billion next year, according to analysis published today by the nonpartisan Congressional Budget Office. The analysis was requested by Senator Sheldon Whitehouse (D-RI), Chairman of the Senate Budget Committee.Although President Biden sign… Continue Reading


07.12.23

Sen. Whitehouse: We can protect Social Security for all without cutting benefits

Washington, D.C.-U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today's hearing,titled "Protecting Social Security for All: Making the Wealthy Pay Their Fair Share." Chairman Whitehouse's remarks, as prepared for delivery: Since the start of this Congress, my distinguished ranking member and many of the Republican members of this Committee have insisted we should focus only on rising debt and deficits. Be… Continue Reading


07.11.23

Whitehouse, Boyle Legislation to Protect Social Security for All, Make Wealthiest Pay Fairer Share Will Extend Solvency Indefinitely

Washington, D.C.—New analysis released today by the Social Security Administration’s Office of the Chief Actuary finds the Medicare and Social Security Fair Share Act, originally introduced by Senator Sheldon Whitehouse (D-RI), and with companion legislation introduced today by Congressman Brendan F. Boyle (D-PA-02), would extend Social Security solvency indefinitely by making the nation’s highest earners contribute their fair share. The Chief Actuary’s letter was issued in response to a joint r… Continue Reading

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