COSTA LENDS SUPPORT TO BUDGET REFORM ACT

FRESNO, CA - Calling it "acommon sense" guideline for cutting and spending in the federal budget,Congressman Jim Costa (D-Fresno) today (November 9, 2005) announced his supportfor a House bill that he said, "makes a strong statement against wasteful andinefficient federal spending."

Costa is supporting the Corporate Entitlement Reform Act of2005, which was introduced this week to identify various corporateentitlements, such as direct grants, subsidies and tax breaks that fail tocreate a fiscally sound budget as it relates to cutting taxes and spendingmoney. The legislation calls on Congressto create a nine-member, bipartisan Commission to review existing corporateentitlements and recommend to Congress a minimum of $50 billion in savings overten years.

"As a new Member of Congress, I am struck by the nonsensicalability of our government to spend money we do not have during a time of war,record deficits and epic international borrowing, while at the same time thosein charge insist on tax cuts," Congressman Costa stated.

Costa joins various other Members of Congress, includingthose who are a part of the Blue Dog Coalition, in offering his support what hecalled, "a rational approach to maintaining fiscal responsibility."

"It is our responsibility to properly manage our budget andplan for long term balance. The state ofaffairs in which we currently find ourselves does not lend itself well tocutting taxes," Costa concluded. "Thatmath simply does not equal sound fiscal management. This bill, however, makes a strong statementagainst wasteful and inefficient spending."