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Waters Statement on the President’s Budget Request

February 3, 2015
Press Release

Waters Statement on the President's Budget Request


WASHINGTON, D.C. – Following the release of President Obama's fiscal year 2016 budget request, Congresswoman Maxine Waters (D-CA) Ranking Member of the Financial Services Committee, and member of the Democratic Steering & Policy Committee, applauded the President for including a number of important spending increases for HIV/AIDS programs, Alzheimer's research and for the government agencies that are charged with policing Wall Street.


She released the following statement.


"I am encouraged by the Administration's proposal that would end the devastating sequestration cuts and reignite public investment in a robust public works program that will rebuild our nation's frail infrastructure and produce more jobs. Democrats now have a budget proposal that is not only fiscally responsible but demonstrates our commitment to rebuilding our economy through sustainable growth initiatives and making the critical investments America needs in every sector.


"As someone who has spent my career focused on HIV/AIDS issues, I commend President Obama for including robust funding of HIV/AIDS domestic programs as part of the national strategy to reduce HIV incidences by expanding access to treatment, care, and prevention. Last year, I sent a letter to the Administration urging President Obama to increase HIV/AIDS funding in his budget proposal which, as of today, increases total government-wide spending on HIV/AIDS by nearly $1 billion.  Furthermore, as the co-chair of Alzheimer's Task Force, I am glad the President's proposal provides a six percent funding increase for research and development to support efforts like the BRAIN initiative, which offer new insights into Alzheimer's disease and provide the critical research resources to develop more effective treatments and ultimately discover a cure.


"As Ranking Member of the Financial Services Committee, I'm pleased that President Obama's proposal boosts funding for Wall Street's cops, the Commodities Future Trading Commission and the Securities and Exchange Commission, ensuring the financial services industry adheres to the rules of the road. This funding is essential to encouraging a strong and stable financial system that is focused on providing economic security for all hardworking Americans. Further, I commend the President for demonstrating a clear commitment to Main Street by advancing a proposed fee to protect America's taxpayers, which makes it more costly for mega-banks to support their financing activities with excessive borrowing.


"Notably, President Obama's budget proposal also includes critical funding for programs at the Department of Housing and Urban Development (HUD) to provide safe, decent, and affordable housing for millions of low-income Americans. Although President Obama's budget is far from perfect and includes ill-advised proposals to expand both the ‘Rental Assistance' and the ‘Moving to Work' demonstration projects, the increased funding levels for many of HUD's programs will help to house our nation's vulnerable populations, address economic disparities exacerbated by the housing crisis, and expand access and opportunity so that more Americans can experience the benefits of our nation's economy."