River Bend Times

Oregon Senator Jeff Merkley, who serves as the Ranking Member of the Senate Budget Committee, has expressed concerns following the release of the Congressional Budget Office's (CBO) Budget and Economic Outlook. In his statement, Merkley highlighted the financial struggles faced by American families due to inflation affecting essential goods and services. He emphasized that wages are not keeping up with rising costs.

Merkley pointed out that the CBO report indicates unsustainable growth in national debt. He attributed this to policies such as tax cuts for the wealthy, which he argues have added significantly to the federal deficit. "America’s working families are stretched thin," Merkley stated. He criticized Congressional Republicans and President-elect Trump for supporting tax cuts that benefit the wealthy while increasing national debt.

The senator praised efforts by Congressional Democrats and President Biden to pass measures like the Inflation Reduction Act, aimed at creating jobs, reducing prescription drug costs for seniors, and investing in climate initiatives while lowering the deficit. "That’s why Congressional Democrats and President Biden worked so hard to pass the Inflation Reduction Act," he said.

Merkley called on Republicans to collaborate with Democrats on policies that support working families without exacerbating national debt issues. "Republicans must go back to the drawing board and work with Democrats," he urged.

The CBO's report estimates that extending Trump's 2017 tax cuts could add $4.6 trillion to national debt through 2034, a figure likely to increase as projections now include 2035.