The Congressional Progressive Caucus' 'People's Budget' Takes on the Issue of Income Inequality

Posted March 25, 2015

MP3 Interview with Dave Johnson, fellow with the Campaign for America’s Future, conducted by Scott Harris

peoplesbudget

Republicans, who won a majority in the U.S. Senate last November, are currently debating the 2016 federal budget, their first since taking control of Congress. GOP-proposed budgets would cut about $5 trillion over the next ten years with programs that assist working families hit the hardest. Programs targeted for major reductions include Medicare and Medicaid, college tuition, job training, medical research and rebuilding the nation’s infrastructure. Both the Senate and House budgets would repeal the Obamacare health plan that now provides health insurance to more than 16 million people and would force 11 million people off the food stamps programs known as SNAP.

Competing Republican budget proposals differ on how deeply to cut social programs and the amount of increased funding that should be allocated to the Pentagon. While the rationale for major spending cuts is advertised as a path to balancing the federal budget, the House budget plan would give larger tax cuts to the wealthy, which the Center on Budget and Policy Priorities estimates would create a $1 trillion deficit over the next decade.

While the GOP and President Obama’s budget blueprints are getting most of the attention in Washington, the Congressional Progressive Caucus has proposed their own set of numbers. The People’s Budget, as the caucus calls it, would invest funds to create millions of jobs, repair crumbling roads and bridges, make college more affordable, improve education and move the country toward full employment. Money for these funding increases would be generated by raising taxes on wealthy households and large corporations through the elimination of loopholes and establishing fairer tax rates. Between The Line’s Scott Harris spoke with Dave Johnson, a fellow at the Campaign for America's Future, who reviews the Republican Party's proposed budgets and the contrasting People’s Budget, which addresses growing income inequality.

For more information on "The People’s Budget: A Raise For America," visit cpc.grijalva.house.gov/the-peoples-budget-a-raise-for-america or for information on Campaign for America's Future, visit ourfuture.org.

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