People’s Budget Outperforms Republican Plan
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Congress is back in town next week and the budget battle will take top billing. Republicans are standing solidly behind their Paul Ryan-crafted House plan that forces seniors to pay more for health care by replacing Medicare with underfunded vouchers, cuts taxes for corporations and the wealthy, cuts Medicaid funding, repeals health care reform and slashes up to 2 million jobs.
They claim their fiscal plan is the centerpiece of the deficit-reduction strategy, but with $4.3 trillion in spending cuts and $4.2 trillion in tax giveaways, mostly to the wealthy and corporations, that’s not much of down payment on the deficit.
Today the Economic Policy Institute (EPI) released a Snapshot of the 10-year deficit-reduction projections for the Republican plan, the budget framework outlined by President Obama and the “People’s Budget” developed by the Congressional Progressive Caucus. While the Republican and Obama plans do achieve a reduction in the deficit over the next decade, the People’s Budget goes a step further by creating a budget surplus by 2021.
Progressive Caucus Backs Public Health Insurance Plan
While one of the AFL-CIO’s key health care reform principles—a public health insurance option—has been vigorously attacked by the private insurance industry, it received important backing last week from the Congressional Progressive Caucus (CPC).
The CPC long has backed a single-payer approach for health care reform. But last week, the group said that is not a line in the sand that could not be crossed to win its backing of health care reform legislation.
In a letter to congressional leaders, the CPC said its 77 members could support a public insurance plan option within a reformed health care system that maintained private insurance. But, the group also stressed that it’s the “minimum” needed to win their support for reform legislation.
