Joint Economic Committee Chairman Dan Coats (R-Ind.) today issued the following statement regarding President Barack Obama’s budget proposal for the 2017 fiscal year:

“President Obama could have used his final budget proposal to finally make efforts to reduce our debt and rein in out-of-control federal spending. Instead, his budget would add $2.5 trillion in new spending and $3.4 trillion in tax hikes over 10 years. This budget cements President Obama’s legacy of spending too much, taxing too much and borrowing too much.

“What our country desperately needs is a focus on reducing our debt, strengthening programs like Medicare and Social Security for future generations and reforming our tax code. These are the steps that can put our country on a path toward long-term growth, stability and opportunity for all Americans.”

The president’s fiscal year 2017 budget can be found here.