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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsProgressive Caucus releases the Back to Work Budget
7 million new jobs in one year
$4.4 trillion in deficit reduction
Were in a jobs crisis that isnt going away. Millions of hard-working American families are falling behind, and the richest 1 percent is taking home a bigger chunk of our nations 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 Americas 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 nations 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. Its time we side with Americas middle class and invest in their future.
Job Creation
Infrastructure substantially increases infrastructure investment to the level the American Society of Civil Engineers says is necessary to close our infrastructure needs gap
Education funds school modernizations and rehiring laid-off teachers
Aid to States closes the recession-caused gap in state budgets for two years, allowing the rehiring of cops, firefighters, and other public employees
Making Work Pay boosts consumer demand by reinstating an expanded tax credit for three years
Emergency Unemployment Compensation allows beneficiaries to claim up to 99 weeks of unemployment benefits in high-unemployment states for two years
Public Works Job Programs and Aid to Distressed Communities includes job programs such as a Park Improvement Corps, Student Jobs Corps, and Child Care Corps
Fair Individual Tax
Immediately allows Bush tax cuts to expire for families earning over $250K
Higher tax rates for millionaires and billionaires (from 45% to 49%)
Taxes income from investments the same as income from wages
Fair Corporate Tax
Ends corporate tax bias toward moving jobs and profits overseas
Enacts a financial transactions tax
Reduces deductions for corporate jets, meals, and entertainment
Defense
Returns Pentagon spending to 2006 levels, focusing on modern security needs
Health Care
No benefit cuts to Medicare, Medicaid, or Social Security
Reduces health care costs by adopting a public option, negotiating drug prices, and reducing fraud
Environment
Prices carbon pollution with a rebate to hold low income households harmless
Eliminates corporate tax subsidies for oil, gas, and coal companies GETTING AMERICANS BACK TO WORK
The Back to Work Budget creates nearly 7 million jobs in its first
http://cpc.grijalva.house.gov/back-to-work-budget/
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Progressive Caucus releases the Back to Work Budget (Original Post)
ProSense
Mar 2013
OP
ProSense
(116,464 posts)1. Kick for
solutions.
JaneyVee
(19,877 posts)2. K&R for the working class peoples budget.
LonePirate
(13,417 posts)3. This is the budget every Democrat should be championing.
msongs
(67,394 posts)4. fine but does it appease republicans in a "bipartisan" way? hmm nt
LongTomH
(8,636 posts)5. This is what should be getting attention -- not the talk about 'fixing entitlements!'
ProSense
(116,464 posts)6. Yup. n/t