House Schedules Committee Hearing On Bush Budget

by Leroy Baker, Tax-News.com, New York

01 February 2008

Rep. Charles Rangel, Chairman of the House of Representatives Ways and Means Committee, has announced that the Committee will hold a hearing on President Bush’s budget proposals for fiscal year 2009.

The hearing has been scheduled to take place on 7th February, three days after President Bush submits his fiscal year 2009 budget to Congress.

The budget details the President's tax proposals for the coming year, as well as the budget for the Treasury Department and other activities of the Federal government. However, it takes on extra significance this year, given the predicted weakness in the US economy and the cost of the fiscal stimulus package currently moving through Congress.

Because of the limited time available before the hearing, Rangel announced that Treasury Secretary Henry Paulson will be the only witness to give oral testimony. Other individuals and organizations are expected to submit written testimony to the Committee.

In announcing the hearing, Rangel stated:

“I have enjoyed working with Secretary Paulson during his tenure as Treasury Secretary and look forward to hearing from him before the Committee as he presents the President’s budget."

He concluded: "This year’s budget will be released at a time of growing concern about the economy. It will be very helpful for us to hear from the Administration’s top economic policy official as we seek further ways for Democrats and Republicans to work together to find solutions to the issues facing American families.”

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