Statement from Michael A. Peterson on the Cooper-LaTourette Amendment
“Representatives Cooper and LaTourette have displayed courage and leadership by putting party ideology aside and working together to foster a bipartisan approach to our long-term fiscal challenges.
“In an era of divided government, the only viable fiscal plan is a bipartisan fiscal plan. The House Republican Budget and the Administration Budget reflect the priorities of their own parties, but to address this critical national imperative successfully, both parties will need to make concessions from their preferred positions.
“The Cooper-LaTourette amendment illustrates the types of choices that must be considered if we are going to get our fiscal house in order. Though this first vote was unsuccessful, Representatives Cooper and LaTourette and their supporters have demonstrated a constructive model of the type of bipartisan legislative framework that is necessary to solve our nation’s fiscal challenges.”
Further Reading
What Are Excise Taxes and How Do They Affect the Federal Budget?
Excise taxes are levied on specific goods or services. The largest excise taxes on the federal level are related to highways, aviation, tobacco, and alcohol.
The United States Spends More on Defense than the Next 6 Countries Combined
Defense spending by the United States accounted for nearly 40 percent of military expenditures by countries around the world.
Budget Basics: What Is the Earned Income Tax Credit?
The earned income tax credit (EITC) is a measure administered through the tax code to address poverty.