King: “Trump is Making America’s Economy Great Again!”
April’s budget surplus largest in American history; Trump seeks return of $15 Billion to Treasury
Washington, D.C.- Congressman Steve King releases this statement following the Congressional Budget Office’s (CBO) announcement that the month of April recorded the largest monthly budget surplus in American history. The CBO announcement coincides with today’s news that President Trump is seeking to use the budgetary rescissions process to return to the treasury $15 billion in previously appropriated funds that have not been spent.
“The enactment of the Tax Cuts and Jobs Act has jump-started the economy, and the Congressional Budget Office has the data that proves it,” said King. “April just posted a $218 billion surplus, a tally that makes it the biggest monthly budget surplus in American history. In fact, this total far exceeded the CBO’s own initial estimates, because CBO underestimated the impact the new tax law would have on stimulating economic activity and increasing incomes.”
“When you combine April’s record numbers with the President’s request today to return $15 billion to the treasury, the benefits of having a shrewd businessman like Donald Trump in the White House become clear. President Trump is running record budget surpluses and safeguarding taxpayer funds, and he is Making America’s Economy Great Again. Our budget will be fully great when it is fully balanced.”