Senator Sanders: Democratic budget ends offshore tax havens and raises the minimum wage

[ProSense]

The Senate Budget Committee on Thursday approved a plan that would reduce the deficit by $1.85 trillion over 10 years through a mix of spending cuts and tax increases. The panel added amendments by Sen. Bernie Sanders to end offshore tax havens and raise the minimum wage. In the House, meanwhile, a budget was proposed that would make drastic spending cuts without asking the wealthy and profitable corporations to contribute to deficit reduction. “Disastrous” and “insane” were two words Sanders used to describe what House Budget Chairman Paul Ryan proposed. Earlier in the week, Sanders chaired a Wednesday hearing on a claims backlog at the VA. And on Tuesday he introduced a constitutional amendment that would undo Citizens United, the notorious Supreme Court ruling that voided campaign finance regulations.

Budget Committee One Sanders amendment approved by the committee would go after tax-dodging corporations. A second one supports increasing the minimum wage. Both Sanders amendments were approved by votes of 12 to 10. House Republicans, meanwhile, offered what Sanders called a “disastrous” budget that would cut programs for working families. “It is insane to simply talk about ‘cut, cut, cut’ when you’ve got the wealthiest people and large corporations doing phenomenally well and paying lower effective tax rates than they should,” Sanders said Thursday on The Cycle on MSNBC. Watch the MSNBC interview

Tax Havens The Wall Street Journal reported on Monday that its own analysis of 60 big U.S. companies found that they parked $166 billion offshore last year. Sanders has called for closing those tax loopholes to help bring down deficits. “At a time when we have a $16.6 trillion national debt; at a time when roughly one-quarter of the largest corporations in America are paying no federal income taxes; and at a time when corporate profits are at an all-time high, it is past time for corporate America to contribute significantly to deficit reduction,” he said.

http://www.sanders.senate.gov/newsroom/news/?id=D2F2CFFA-DE92-40D4-9FAB-9ED72040CF47

Democratic members of the Senate Budget Committee:

Patty Murray
Ron Wyden
Bill Nelson
Debbie Stabenow
Bernie Sanders
Sheldon Whitehouse
Mark Warner
Jeff Merkley
Chris Coons
Tammy Baldwin
Tim Kaine
Angus King

http://www.budget.senate.gov/democratic/index.cfm/democraticmembers

[The Magistrate]

1. He Is 'America's Senator', Ma'am

[valerief]

7. So few Bernies and so many Ryans. nt

[diverdownjt]

8. Absolutely...

Where have all the good politicians gone....remind of a song from our youth?

[Coyotl]

2. I'd like to see minimum wage legislation stand alone, so the Rs have to stand up for their votes

in their next election cycle.

Also, it is due time to get rid of any exemptions to the law that allow lower state rates or no state rate to prevail upon workers.

[love_katz]

3. Right on, Sir Magistrate.

I wish we could clone Bernie Sanders, for all 50 states!

[SunSeeker]

4. K&R

[Doctor_J]

5. Hopefully the president will come out loudly in favor of this budget

of course, that would mean we'll have to watch out for flying pigs.

[ProSense]

9. Here's the WH statement:

Statement by the Press Secretary on the Senate Democratic Budget

The Senate Democratic budget is a concrete plan that will grow our economy and shrink our deficits in a balanced way, consistent with the President’s belief that our economy grows best from the middle-out, not the top-down, while reducing the debt as a share of the economy. It’s a plan that doesn’t dwell on ongoing debates, but rather moves our country forward by making investments critical to our middle-class security – like education, manufacturing, and rebuilding our crumbling roads and bridges – while looking for waste, fraud, and savings throughout government. This budget makes tough spending cuts and leaves no sacred cows, but it also makes sure that seniors and the middle class aren’t forced to bear the full burden of deficit reduction by eliminating wasteful loopholes through tax reform, so that the wealthiest Americans pay their fair share.

Republicans and Democrats have now put their plans on the table. And while there are differences, both sides share some common goals. The President looks forward to seeking compromise and common ground with Congress so we can grow the economy, create jobs, and cut the deficit in a balanced way.

http://www.dailykos.com/story/2013/03/13/1193895/-White-House-press-secretary-statement-on-the-Senate-Democratic-budget

[Doctor_J]

13. Compromise & common ground

well, it was fun to hope for a couple hours.

[dmosh42]

6. Bernie is the best senator, bar none!

[DhhD]

10. Is there a web site that compares both the Democrats and Republican Plans?

[ProSense]

11. You can find

a lot of information here: http://www.cbpp.org/

[Doctor_J]

14. Here

http://nationalpriorities.org/analysis/2013/budget-proposals-2014/

[ProSense]

15. Good information. Thanks. n/t

[libtodeath]

12. We need 99 more senators like him.

[John2]

18. I see five Senators

on the Republican side, the Democratic Party should target politically. The Senators of New Hampshire,Pennsylvannia,Iowa, Wisconsin and Ohio. I would also add Rubio to that list. Senators are elected by a statewide vote, so I don't see any reason why Democrats would not be competitive against those particular Senators.

[Wilms]

16. ^

[ProSense]

17. Kick! n/t