In testimony before the Appropriations Subcommittee on the Departments of Transportation, Treasury, Housing and Urban Development, Treasury secretary John Snow said the $11.6 billion request would support activities to help ensure prosperity and security.

Snow said the 2007 budget -- which is nominally higher than the FY 2006 appropriation -- "is consistent with the president's overall goal of cutting our deficit in half by 2009."

Snow said the Treasury is committed to fiscal austerity and to the most efficient and effective use of taxpayer dollars while at the same time boosting revenues through continued economic growth.

He added that the budget, " Reflects the department's dedication to promoting economic opportunity, strengthening national security and exercising fiscal discipline."

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