Budget Democrats Release Fact Sheets Highlighting Tax Fairness and Health Provisions of Biden Budget
WASHINGTON, DC — Today, the Democratic Staff of the House Budget Committee released two fact sheets highlighting both the tax fairness and health care proposals in President Biden's 2025 budget. The forward-looking agenda outlined in these fact sheets is a stark contrast to the bleak and backward 2025 Republican budget resolution. While the budget reported by House Republicans last week calls for devastating cuts to health care programs and paves the way for a $3 trillion extension of the Trump tax scam. President Biden's budget strengthens Medicare, reduces health care costs, and ensures billionaires and big corporations pay their fair share.
The tax fairness fact sheet explains how the President's budget reduces the deficit by $3 trillion over 10 years by cracking down on wealthy tax cheats, cutting wasteful spending on special interests, and by making the ultra-wealthy and large corporations finally pay their fair share, including through a 25 percent billionaire minimum tax. Meanwhile, House Republicans' plan creates a slush fund to finance trillions more in deficit-busting tax cuts skewed towards the ultra-rich.
The health care fact sheet underscores how the President's budget extends Medicare's solvency indefinitely while building on the progress we made with the Affordable Care Act, the American Rescue Plan, and the Inflation Reduction Act by continuing Democratic efforts to lower prescription drug costs and expand coverage. On the other hand, the Republican budget makes $2.2 trillion in cuts to health programs, attacks Medicare's ability to negotiate drug prices, and does nothing to protect Medicare benefits for all generations.
The Fact Sheet on Tax Fairness and Fiscal Responsibility is HERE, and a PDF is available HERE.
The Fact Sheet on Protecting Medicare and Lowering Health Care Costs is HERE, and a PDF is available HERE.
An overall summary detailing how President Biden's 2025 budget takes America forward, and how the extreme agenda in the House Republican budget would take us backward is HERE, and a PDF is available HERE.