Tax and Appropriations
Democrats’ Make It In America plan is based on the belief that when more products are made in America, more families will be able to Make It In America. The plan is intended to create the conditionsto help American businesses produce goods here, innovate here, and create jobs here; it includes many of the investments necessary for America to out-educate, out-innovate, and out-build its international competitors. President Obama has already signed ten Make It In America bills into law, many of which won bipartisan support. Business and labor leaders alike support Democrats’ Make It In America plan—because Making It In America is central to the future of our competitiveness, our jobs, and our place in the world.
As he prepared to take office, President Kennedy spoke to a nation troubled by anxiety over America’s leadership in the world and uncertainty over whether future Americans would inherit a strong and secure economy.
This chart from a Dartmouth survey explains the Republican plan to achieve deficit reduction – more specifically, it points out why they don’t have one. As Slate points out, there’s “no Republican support at a grass-roots level for any measure that would lead to substantial deficit reduction.”
Yesterday’s meeting with Grover Norquist to keep Republicans in the fold came as more and more Republicans are starting to admit that we can’t face our fiscal challenges without putting revenues on the table. Our favorite recap, courtesy of TPM:
Who would receive the greatest benefit under Republicans’ tax plan? Not low and middle-income Americans, according to a new analysis by Citizens for Tax Justice. According to their report, under the Republicans’ tax plan the poorest 20 percent of Americans would receive an average tax cut of $120 while the richest one percent would receive an average cut of $70,790.
While Republicans are holding middle class tax cuts hostage so they can give tax cuts to the wealthy, they might want to check out today’s National Journal poll. According to the poll results, a majority of Americans oppose extending tax breaks for the wealthy:
Today, we heard President Obama lay out a plan for America’s economic future to provide businesses with certainty, to create jobs for the middle class, and to pay down our debt. The American people understand what’s at stake this year: the progress of our economic recovery and the potential for a new generation of prosperity. The path laid out by the President is the right way to further our recovery, as demonstrated by the success of our auto industry after Democrats took action to prevent automakers from going bankrupt.
Looks like Republicans have given up trying to hide their true priorities. While Americans and businesses are facing economic uncertainty, Republicans are now admitting that they’re slowing down the legislative process on purpose in the hopes of postponing debate on critical items until after the election, when they hope things will be more in their favor.
Yesterday, we highlighted some harsh truths former Gov. Jeb Bush of Florida said at a breakfast with reporters, during which he pointed out that confrontation has become the new norm for Congressional Republicans.
There has been a lot of finger-pointing recently about who is responsible for our country’s economic health. While Republicans are busy blaming President Obama, this New York Times op-ed by Bruce Bartlett—himself an advisor to two Republican presidents—explains that the previous White House occupant, Mr. Bush, is actually more responsible for our country’s budget deficit.