Rep. Jim Renacci (OH-16) today released the below statement after Treasury Secretary Jacob Lew testified before the Ways & Means Committee on the President’s Fiscal Year 2016 budget proposal:

“Though I support making permanent the New Markets Tax Credit and incentivizing businesses to hire veterans, the majority of President Obama’s budget proposal puts us on the same trajectory that led us to $18 trillion worth of debt, stagnant wages, and one of the lowest labor force participation rates in decades. He calls for more taxes and more spending, yet his budget never balances. His proposal builds upon failed policies of the past – instead of solutions for the future.

“As the father of three, I am concerned about the direction this country is moving. That is why I have remained a strong proponent of reducing our debt, reining in federal spending, and shrinking the size and scope of the federal government. We in the House are committed to these principles and will work hard to put forth policies that will pave the way for economic growth and allow hardworking Americans to keep more of their paychecks. We want to create more opportunities for Americans, not limit them. I’m hopeful the president will work with us to move America forward.”