Budget Democrats Release Report on Devastating Impact of Extreme Republican Budget
House Republicans' FY 2025 budget puts families on the chopping block while relying on gimmicks and far-fetched assumptions to pretend to balance |
WASHINGTON, DC — Today, the Democratic Staff of the House Budget Committee released a report detailing how House Republicans' FY 2025 budget resolution paves the way for trillions in tax cuts for billion-dollar corporations and the ultra-rich while making draconian cuts to the investments Americans rely on.
The report examines Republicans' misleading claims on how they achieve a "balanced" budget by 2034, including by using miraculous predictions of economic growth, tax receipts, future spending levels, and interest savings. And even with trillions in claimed savings through these budget gimmicks, they still call for an astounding $2.5 trillion in cuts to non-defense discretionary programs and $6 trillion in cuts to mandatory programs that would raise the cost of living for American families. These cuts would eviscerate bedrock government programs – including Medicaid, SNAP, infrastructure spending, and funding for higher education. This extreme budget is a disaster for America, prioritizing tax cuts for the ultra-wealthy over seniors, students, and middle-class families.
The text of the report, Reversing Course: GOP's Backwards Budget, is available hereand a PDF can be found here.
The full committee will hold a markup of the FY 2025 budget resolution tomorrow, Thursday, March 7, 2024 at 10:00 AM. The markup will be livestreamed here.