By walking away from every negotiation – from the Deficit Commission to the Biden Commission to direct talks with the President – Republicans have made it clear that they place politics above responsibly solving the country’s budget challenges. Now they have introduced their extreme “Cut, Cap and Balance” proposal. This bill would dramatically cut our country’s most critical investments, including Social Security, Medicare and Medicaid. It would also cut funding for public education, Pell grants, repairing roads, bridges and waterways, and disaster relief.
Republicans have made their values abundantly clear. The “Cut, Cap, and Balance Act” would essentially make it unconstitutional to care for our seniors, our veterans, and our children. As Jacob Lew, the Director of the Office of Management and Budget, said this weekend, “What these amendments do is not just say you have to balance the budget, but it puts in place spending limitations that would force us to cut Social Security and Medicare more deeply than even the House budget resolution did.” On top of this, the amendment fails to end huge tax giveaways to corporations who ship jobs overseas, or tax subsidies for millionaires and billionaires.
The Congressional Progressive Caucus stands by The People’s Budget, the only budget that actually creates a surplus by 2021. Our budget introduces common-sense reforms to strengthen Medicare, Medicaid, and Social Security, without cutting benefits that Americans depend on. We also make sure those who have benefited from America’s economy pay their fair share to ensure its future strength. We end wasteful defense spending, close corporate loopholes, and end the Bush tax breaks for millionaires and billionaires.
Republicans have done everything possible to foil serious negotiations designed to put our fiscal house in order. This bill is as radical as it is unprecedented. We call on House Republicans to stop the games and the posturing and do the responsible thing for the American people.