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Democratic Budget vs. GOP Budget

Mar 23, 2015

 

 

 

REPUBLICAN BUDGET

DEMOCRATIC ALTERNATIVE

Rewarding Work through Tax Fairness

► Green-lights tax cuts for the top 1 percent paid for by the middle class, increasing taxes on a typical working family by $2,000.

► Refuses even one penny of deficit reduction from closing special interest tax breaks, like those for shipping jobs overseas, corporate jets, and hedge funds managers.

► Rejects tax breaks for the wealthy. Provides tax relief to hard-working families and protects the middle class from tax increases, while closing special interest loopholes.

► Extends key improvements to Child Tax Credit and EITC, expands EITC for childless workers, and extends higher education tax credits.

Investing in America
&
Growing the Economy to Support American Workers

 

► Guts investments in education, scientific research, energy technologies, advanced manufacturing, public safety, and other economically crucial activities by cutting non-defense discretionary funding well below sequester levels from 2017 onward.

► Cuts $187 billion from transportation funding over the coming decade.

► Slashes current policy for higher education by more than $220 billion, freezes the maximum Pell grant, and cuts student loans.

► Cuts veterans' funding below the President's request by $1.9 billion for 2016 and by $19 billion over ten years.

► Rejects economic potential of comprehensive immigration reform.

► Lifts the sequester and grows the economy through investments that sharpen America's competitive edge, including scientific research, energy technologies, advanced manufacturing, and public safety.

► Funds the President's six-year, $478 billion surface transportation reauthorization proposal and additional infrastructure investments.

► Increases support for education programs, ranging from early childhood to making college more affordable.

► Provides an 8 percent increase over current year funding for veterans' programs, matching the President's request.

► Includes comprehensive immigration reform, boosting the economy and reducing the deficit.

Commitments to

Seniors

► Ends Medicare guarantee, replaces with voucher shifting financial risk to seniors and raises prescription drug costs for seniors.

► Cuts base Medicaid program 14 percent in 2017, rising to one-third in 2025, jeopardizing seniors' access to long-term care and other supports.

► Preserves the Medicare guarantee and important Affordable Care Act benefits for seniors, including help with Rx drug costs.

► Ensures seniors and people with disabilities continue to get needed Medicaid services.

► Protects Social Security from benefit cuts and privatization.

Health Care

&

Safety Net

► Takes away health insurance from more than 16 million people by repealing the Affordable Care Act (ACA) and eliminates tax credits that millions of families have received to purchase affordable health insurance.

► Cuts Medicaid by roughly $900 billion over ten years and SNAP nutrition assistance by $125 billion over ten years while converting both programs into block grants.

► Maintains Affordable Care Act (ACA) patient protections, such as young adult coverage and no denials for pre-existing conditions.

► Protects Medicaid for working families and supports its expansion under the ACA.

► Preserves nutrition assistance, expands child care assistance, and supports a number of vital programs that serve low-income families.

Overseas Contingency Operations

► Provides $36 billion for 2016 – more than requested – to avoid lifting the sequester caps for defense and nondefense.

► Matches the President's request for 2016.