Van Hollen Announces House Democratic Budget Alternative
Washington, DC – Today Maryland Congressman Chris Van Hollen issued the following statement announcing the House Democratic budget alternative:
“The House Democratic budget is focused first and foremost on putting Americans back to work – not only is it best for families, it is also the fastest and most effective way to reduce the deficit. Our plan will generate 1.2 million jobs this year compared to the Republicans’ European-style austerity plan. Our budget makes key investments in America’s future, keeps our commitments to our seniors, and strengthens the middle class. It also takes take a smart, targeted, and balanced approach to reducing our long-term deficit – it reduces the deficit to 2.4 percent of GDP by 2023 and will bring the budget into balance at about the same time as the House Republican budget last year.
“The House Democratic plan stands in stark contrast to the Republicans’ slash-and-burn approach that will slow job growth, slash investments, raise taxes on middle class families, and end the Medicare guarantee rather than ask the wealthiest Americans to pay a dime more to reduce our deficit. Their plan shortchanges our future and is a recipe for national decline – not only does it fail to replace the sequester, which CBO estimates will cost 750,000 jobs this year alone, it would more than double the sequester cuts to non-defense programs that provide vital investments. At the same time, the GOP would provide millionaires an average tax break of $245,000 while sticking middle class families with a bill of $3,000. It is simply the wrong choice for America.
“The Republican plan balances the budget on the backs of everyone but the wealthy. The Democratic plan calls for shared responsibility to build shared prosperity.”
To read the text of the legislation, click here.
To read a summary and fact sheets on the Democratic Budget Alternative, click here.