Fiscal Responsibility
Over the years, Democrats have shown our commitment to restoring fiscal responsibility by taking actions that have reduced our national deficit while investing in the American people’s priorities. During the 117th Congress, House Democrats delivered the landmark Inflation Reduction Act, which will reduce the deficit by over $300 billion while lowering health care and energy costs and taking action on climate change. In sharp contrast, Republicans jammed their 2017 Trump Tax Scam through Congress without a single hearing, gifting trillions of dollars in unpaid-for tax handouts to the wealthiest Americans and large corporations while leaving our nation with ballooning deficits. They have repeatedly held our economy hostage to benefit their irresponsible ideological agenda, whether creating artificial “fiscal cliffs,” shutting down the government, or bringing our nation to the brink of defaulting on its obligations. With other landmark legislation delivered during the 117th Congress, including the American Rescue Plan, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, Democrats have worked to invest in economic recovery, job creation, all while cutting the deficit in half last year. Democrats are committed to continuing our work to restore sound, long-term fiscal management so future generations can afford to invest in opportunities, secure the American Dream, and ensure workers have the tools to Make It In America.
Mr. Speaker, the challenging times we live in force us to make difficult choices about our priorities. The reconciliation bill before us today is an example of choosing the wrong priorities.
Democrats are committed to a deficit reduction plan that asks all Americans to contribute their fair share and prevents sequestration from occurring through a balanced mix of spending cuts and revenues. Unfortunately, the Republican plan is not balanced and makes the wrong choices by ending the Medicare guarantee and targeting the most vulnerable among us, while cutting taxes for millionaires and billionaires.
First of all, federal employees have contributed $75 billion over the last two years towards helping us reduce the deficit – $75 billion. No other working American has been asked to do that. You treat federal employees in this House as second-class working people. That's wrong. This is a 5% tax increase on federal employees. Nobody else. Nobody else do we ask. The richest people in America, we don't ask them to help solve this deficit problem. But federal employees, yes, a $75 billion contribution, and you don't blink an eye because it's easy – because we demagogue about government and, by association, we demagogue about ‘bureaucrats’ used as an epithet.
The recaps are in from yesterday’s mark-up of House Republicans’ reconciliation bill, and it certainly isn’t pretty. We’ve picked a few of our favorites that demonstrate the awfulness of the Republican bill. Enjoy:
Today, the President called on Congress to take concrete steps that will help American businesses create jobs that won’t be shipped overseas. It is very unfortunate that Republicans in control of the House have chosen to shirk their responsibilities by refusing to consider a comprehensive plan for growing jobs. Moreover, after a year in the majority, they continue to block Democrats’ Make It In America jobs plan.
While Democrats are committed to reducing the deficit in a balanced way, the Republican budget makes the wrong choices and is not a serious attempt at deficit reduction.
Need more proof House Republicans were never actually serious about reducing the deficit? The Hill reports today that Republicans have no plans to pay for an extension of the Bush tax cuts:
In case you missed it, in an op-ed in Sunday’s Washington Post, Thomas Mann and Norm Ornstein place responsibility for gridlock in Congress squarely on obstructionist Republicans. The pair writes:
For federal employees and their families enduring years of frozen pay, a new proposal to cut their pay could not come at a worse time. Those who serve at federal agencies are middle-class workers who never see salaries or bonuses like those on Wall Street. Federal employees have been hurt by the recession just like the rest of America's middle class. They work hard each day in jobs that are frequently high in stress and responsibility but low in pay and benefits. But they know they are making a difference and serving their country.
This week, Republicans will continue to outline additional details of their extreme budget that ends the Medicare guarantee, destroys jobs, and cuts taxes for the wealthy. In Committee hearings this week, Republicans are expected to lay out cuts that undermine health care coverage and target our federal employees in order to preserve tax cuts for the wealthy.