USA - Republicans the White House Drops A Fact Bomb On The House Republican Budget

With more than 12 million private-sector jobs created over the last 60 months, it is clear that the President’s middle class economic agenda is working. But instead of taking the steps we need to strengthen the standing of working families, the House Republican budget for fiscal year (FY) 2016 would return our economy to the same top-down economics that has failed us before.

The Republican budget cuts taxes for millionaires and billionaires, while slashing investments in the middle class that we need to grow the economy, like education, job training, and manufacturing. The Republican proposal stands in stark contrast to the President’s FY 2016 Budget, which would bring middle class economics into the 21st Century.

The President’s Budget builds off the progress we’ve made and shows what we can do if we invest in America’s future and commit to an economy that rewards hard work, generates rising incomes, and allows everyone to share in the prosperity of a growing America. It lays out a strategy to strengthen our middle class and help America’s hard-working families get ahead in a time of relentless economic and technological change. And it makes the critical investments needed to accelerate and sustain economic growth in the long run, including in research, education, training, and infrastructure.

House Republicans have chosen different priorities. Yet again, they are seeking to balance the budget on the backs of the middle class, while cutting taxes for the wealthy and well-connected. House Republicans still won’t say where close to $1 trillion of their spending cuts come from. But they are clear that their budget would continue the harmful cuts known as sequestration in 2016, threatening economic growth, cutting programs middle-class families count on, and attempting to fund national security through irresponsible budget gimmicks. 

Their budget slashes domestic investments that support middle-class even more significantly after 2016, along with programs that serve the most vulnerable Americans. It would end Medicare as we know it, transforming it from a guarantee seniors can count on into a voucher program. And, despite the more than 16 million Americans who have health insurance today as a result of the Affordable Care Act (ACA), it yet again proposes to repeal the law’s coverage expansions.

Read more: The White House Drops A Fact Bomb On The House Republican Budget