This has been a busy week in Washington D.C. First, Budget Chairman Paul Ryan released his budget on Tuesday. But the real surprise was that Senate Democrats finally produced a budget for the first time in four long years. I wanted to provide you with a few important updates on both budgets this week, and highlight some important points in both.
The Ryan Budget plan is a good, serious budget. It is by no means perfect, but a significant step in the right direction. This budget balances within ten years, but it only does so by leaving the tax hikes from ObamaCare and the $620 billion in higher taxes from the fiscal cliff in place. This is the danger of allowing tax hikes into the picture when pushing for a balanced budget. We have voiced our concerns on this point to the Congressman, and will continue to hold him accountable on further tax hikes on American families.
On the positive side, the Ryan plan does a great job of starting the discussion on reform, repeals the spending portion of ObamaCare, reduces the size and influence of Fannie and Freddie Mac in the housing markets, and permits the Keystone Pipeline. On balance, the Ryan Budget goes a long way towards improving the fiscal situation our country finds itself in today.
The plan submitted by Senate Budget Chairman Patty Murray contrasts sharply. While we appreciate that the Senate actually produced a budget for the first time in four years, it is a huge disappointment. The budget submitted by Senate Democrats calls for $1.5 trillion in higher taxes, trillions more in new spending, and does absolutely nothing to address the broken entitlement system our country is facing. Senator Murray has no plan to ever balance the budget, and instead does the exact opposite - increasing spending and adding an additional $7 trillion to the national debt.
Overall, Murray’s plan is very dangerous for Americans and our economy as a whole. Continuing out-of-control spending means raising taxes on you, at a time when many Americans can’t afford more tax increases. To not cut spending is irresponsible, but to not even mention it is pure insanity. We wish the Senate Democrats had put more serious effort into addressing the real problems we face.
I look forward to providing more updates on these two proposals to you in the near future, as our Policy Team continues to research and develop more information on the costs and benefits of each. You can keep up with their analysis by visiting our Budget & Spending Issue Page. Until then, please forward this email to your friends and family to help keep them informed of what these two budgets do.
Americans for Prosperity