Costa Supports Bipartisan Budget Deal But Says Congress Must Focus On Long-term Debt Reduction

Washington, DC – Representative Jim Costa (CA-16) released the following statement after the U.S. House of Representatives passed the Bipartisan Budget Agreement of 2015. If signed into law, the legislation would raise sequester level caps by $80 billion over the next two years and is fully offset. Additionally, sequester caps for defense and non-defense discretionary spending will both be raised by $25 billion in Fiscal Year 2016 and $15 billion in Fiscal Year 2017.

"I am pleased that the United States will avoid defaulting on its debt, but our nation still faces great economic and fiscal challenges," said Rep. Costa. "The two year budget deal passed by the House is undoubtedly a better choice than implementing reckless sequestration cuts that would have caused real harm to residents in California's San Joaquin Valley. However, I am disappointed that House leadership and the President failed to address real tax and entitlement reform when drafting the bipartisan budget agreement."

Costa continued saying, "The budget that passed today was a bipartisan compromise, and with any compromise, there are going to be wins and losses for all the parties involved. I share the same concern as those in the agriculture industry that the provisions regarding crop insurance could be harmful. As a member of the House Agriculture Committee, I will do everything I can to ensure the issue is resolved and the agreement made between House leadership and the Administration is upheld during the appropriations process. Additionally, I am disappointed that $1.5 billion has been permanently cancelled from the Crime Victims Fund, a fund that contains absolutely no tax payer money and is intended to provide support services for some of the most vulnerable in our society. These provisions are not ideal, but we cannot lose sight of the bigger picture which is the House passed a two year budget that will get rid of the across the board spending cuts that could have had devastating impacts to our recovering economy. It also does a number of positive things, including offering a solution to the pending spike in Medicare premiums, stopping a drastic reduction in Social Security Disability Income benefits and avoiding substantial tax hikes that would harm the economy."

Costa closed by saying, "Let's not wait 18 months before we start thinking about another budget agreement. Now is the time to start crafting a serious plan that recognizes the hard choices we must make and provides real solutions. We need a federal budget that will foster growth and a healthy national and Valley economy, so it is my hope that Congress acts responsibly and works together on a bipartisan, long-term budget that will focus on debt reduction to put our country on a sustainable fiscal path."

Congressman Costa sent letters to House leadership expressing his strong concerns regarding the crop insurance provision and the $1.5 billion reduction in the Crime Victims Fund.