Budget Battles -- March 22, 2013
A Note from Congressman Carson
Dear Friend:
This week, Congress has debated a number of different budget proposals, including those brought forward by the Republican Study Committee, the Congressional Black Caucus, and the Progressive Caucus. After hours of debate, we finally came together today to consider the underlying bill – the Ryan Republican Budget.
In a time when we should be focusing on putting people back to work and protecting our economic recovery, the Ryan Republican Budget levels damaging cuts and advocates policies that would stall our economic recovery. According to the Economic Policy Institute and the bipartisan Congressional Budget Office, the Ryan Republican Budget would cost us two million American jobs over the next year. It would decrease economic growth by 1.7 percent, and it would likely mean a tax increase of up to $3,000 for middle class families.
I believe the federal budget should be a reflection of our nation's priorities and values. It should be a blueprint of our vision for the future. In this regard, the Republican budget falls way short. Our priorities should include focusing on job creation, economic growth, and keeping Americans safe at home and around the world - not protecting tax loopholes and perks for the wealthy while the middle class pays more. In order to bring our deficits down in a responsible way, we must put both smart spending cuts and new revenues on the table. The American people want – the American people deserve - a budget that works.
Best,
André
The Inside Scoop
The Ryan Republican Budget vs. Indiana's Seniors
By ending Medicare as we know it, the Ryan Republican Budget would hit our seniors hard. According to reports by the Center for American Progress, as well as information from the Kaiser Family Foundation:
- 946,768 Indiana seniors would be forced out of traditional Medicare and into a voucher program.
- 85,784 Indiana seniors would pay more for prescription drugs next year.
- 806,795 seniors would be forced to pay for preventive health services that had previously been free.
- $7.36 billion in health care funds for seniors and the disabled would be slashed from budgets, resulting in the elimination of nursing home care and the defunding of several other critical services.
Impacts on Education
The Ryan Republican Budget also calls for cuts that target student loan programs, making college less affordable and attending college far more difficult for many families.
- Slashes college student aid by a total of $168 billion over the next ten years, ending Pell Grant funding and jeopardizing federal college aid for 10 million students.
- Allows the interest rates on subsidized student loans to double this summer – from 3.4 percent to 6.8%.
- Eliminates the income-based repayment program which makes it easier for borrowers to repay their loans, a move that would likely increase the number of defaults nationwide.
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