Paul Ryan's new job-killing budget is the most reckless austerity plan he's ever proposed. He dismembers Medicare and slashes $2.7 trillion from Medicaid and the Affordable Care Act to give more tax breaks to millionaires.
The Congressional Progressive Caucus' Back To Work Budget offers a better way. It cuts deficits by putting people back to work and shuts down tax dodges for the wealthy and multinationals to invest in areas vital to our future.
The Back to Work Budget would help create 7 million new jobs in one year, while delivering $4.4 trillion in deficit reduction over 10 years. It would enact fair individual and corporate tax policies (Robin Hood Tax), modernize defense, improve health care delivery, and protect the environment (carbon tax, ending subsidies to fossil fuel corporations) - all while preventing cuts to Medicare, Medicaid, and Social Security.
We're in a jobs crisis that isn't going away. Millions of hard-working American families are falling behind, and the richest 1% is taking home a bigger chunk of our nation's gains every year.
Americans face a choice: we can either cut Medicare benefits to pay for more tax breaks for millionaires and billionaires, or we can close these tax loopholes to invest in jobs. We choose investment.
The Back to Work Budget invests in America's future because the best way to reduce our long-term deficit is to put America back to work. In the first year alone, we create nearly 7 million American jobs and increase GDP by 5.7%. We reduce unemployment to near 5% in three years with a jobs plan that includes repairing our nation's roads and bridges, and putting the teachers, cops and firefighters who have borne the brunt of our economic downturn back to work.
We reduce the deficit by $4.4 trillion by closing tax loopholes and asking the wealthy to pay a fair share.
We repeal the arbitrary sequester and the Budget Control Act that are damaging the economy, and strengthen Medicare and Medicaid, which provide high quality, low-cost medical coverage to millions of Americans when they need it most.
This is what the country voted for in November. It's time we side with America's middle class and invest in their future.