WASHINGTON, D.C. – In response to reports that a two-year budget deal has been reached, U.S. Senator Angus King (I-Maine), a member of the Senate Budget Committee, released the following statement:

            “For far too long, the economy has stared down the threat of a budget calamity with sequestration and teetered under the weight of crises manufactured by Congress. The American people deserve better. They deserve an economy that’s not crushed by the harsh grip of spending cuts and they deserve a paycheck that’s not hollowed out by tax increases.

“Instead, they deserve a balanced, common-sense approach to growing the economy, and I hope that’s where this budget deal will lead us. I look forward to reviewing the details in the coming days, but the fact that we have an agreement is a significant and positive step in the right direction.”

As a member of the Senate Budget and Armed Services Committees, Senator King led an informal, bipartisan group of his colleagues in trying to develop a plan to provide responsible sequester relief to non-defense and defense discretionary spending.

During the Senate budget process earlier this year, Senator King and Senator Tim Kaine (D-Va.) also offered an amendment, which was accepted by a vote of 50-48, that would have paved a legislative path for adopting a more sensible, compromise budget that would promote economic growth and reduce the debt and deficit by striking an appropriate balance between spending reductions and revenue increases.

Throughout the Congressional budget process, Senator King has been a strong advocate of a more balanced approach – replacing sequestration with more targeted cuts and a close review of tax loopholes to raise revenues while also protecting the beneficiaries of important programs.

###