House Republicans this week are voting on a budget that protects tax breaks for the wealthiest rather than create opportunities for middle-class families to get ahead. It is the same old top-down approach and would raise taxes on middle-class families with children by an average of at least $2,000 in order to cut taxes for households with incomes over $1 million.
As in previous years, the House Republican Budget proposes deep funding reductions that would result in severe cuts to critical areas that are needed to support job creation, economic growth, a strong middle class, and assistance for lower income individuals, especially when compared to the overall level of investment in the President's budget. Since House Republicans aren’t willing to identify specifically what they actually want to cut, one way to assess the potential damaging impact is to look at what would happen to key programs if the cuts compared to the President’s budget were applied evenly across the board.
The results show the potential extent of the damage across the country. Within a few years:
The President has proposed a responsible budget that would grow our economy from the middle out, not the top down, and create more opportunities for every hardworking American to get ahead while continuing to cut the deficit in a balanced way. It is an approach that will secure our nation’s future and avoid the needless harm to our economy and citizens being proposed in the House Republican Budget.