Statement on House of Representatives Passage of Spending-Reduction Legislation

As I said last night, keeping America competitive requires us to be good stewards of taxpayer dollars. The House today passed a significant spending-reduction package that will curb the growth of entitlementspending for the first time in years and help us stay on track to cut the deficit in half by 2009. I look forward to signing this bill into law. The budget I propose next week will continue to build on the spending restraint we have achieved.