U.S. Senator Ken Salazar

Member: Finance, Agriculture, Energy, Ethics and Aging Committees

 

2300 15th Street, Suite 450 Denver, CO 80202 | 702 Hart Senate Building, Washington, D.C. 20510

 

 

For Immediate Release

March 23, 2007

CONTACT:    Cody Wertz – Comm. Director
303-455-5999


  Salazar: Senate Budget Resolution Creates Surplus/
Funds Colorado Priorities

WASHINGTON, D.C. – Today, the United States Senate passed a Budget Resolution that will provide funding to run the federal government in 2008. Congress has not passed a budget resolution for two years and is still operating under the Budget Resolution passed in 2005.

“This Budget Resolution provides a blueprint that will enable us to fund our most important federal programs, provide new tax relief and extend expiring tax provisions, and balances the budget within five years – without raising taxes,” said Senator Salazar. “The resolution is also great for Colorado because it provides adequate funding for key programs in the areas of law enforcement, children’s health, education and veterans’ health.”

Overall the Senate Budget Resolution does three key things:

  • It includes two years of alternative minimum tax (AMT) relief for middle-class households. This will ensure that 20 million middle-class taxpayers are not unfairly subjected to the AMT for two full years;
  • Initiates a principle known as “PAY-GO,” that states that if one wants to take money out of the budget – either by increasing funding for federal programs or by cutting taxes – one has to pay for it; and
  • In 2012, the Senate Budget Resolution will show a balanced budget while at the same time making permanent the 10% tax bracket, child tax credit, marriage penalty relief, adoption tax credit, dependent care credit, employer provided child care credit, EITC combat pay and sets the stage for fiscally responsible Estate Tax reform.

The Senate Budget Resolution provides funding to several key programs that help Colorado, including:

  • $552 million for the COPS program, which has helped put over 1,300 police officers in communities across Colorado;
  • $1.6 billion for Department of Energy account that, among other things, funds the National Renewable Energy Lab at a level $385 million above what the President requested;
  • $43.1 billion for veterans’ programs, including veterans’ health – a $3.5 billion increase over the President’s request. In 2005, VA spent more than $1.6 billion in Colorado in 2005 to serve more than 424,000 veterans who live in the state;
  • $50 billion for the State Children’s Health Insurance Program (S-CHIP), which covers 46,775 children and an additional 1,500 pregnant women in Colorado – ten times more than the President requested – and $2.6 billion for Federally Qualified Health Centers;
  • $3.8 billion for the Community Development Block Grant program, which provides critical funds to communities in Colorado and across the nation, including $38.6 million for Colorado in 2006;
  • A deficit-neutral reserve fund of $15 billion to potentially increase funding for the Farm Bill, providing support to Colorado’s 31,369 farms & ranches that contribute over $5.5 billion to the Colorado economy; and
  • Rejects the President’s proposed cuts to the PILT program, restoring PILT funding to Fiscal Year 2006 level of $236 million. In 2006, this program provided more than $17 million to 57 counties in Colorado.

“We need a responsible budget blueprint in Congress, and we need it now. This resolution provides that blueprint, and I am proud to stand behind it,” said Senator Salazar.

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