Dear Fellow Democrat,
On Friday, John Boehner’s House Republicans plan to ram through their rightwing TeaParty budget for 2012, which would destroy Medicare to pay for bigger tax breaks for billionaires.
But the Congressional Progressive Caucus (CPC) fought for – and won – a separate vote on the "People’s Budget," which fights for the priorities we and most Americans support.
In a nutshell, the CPC People’s Budget:
1. Eliminates the Deficit by 2021 without devastating Medicare, Medicaid, and Social Security.
The CPC budget targets the true drivers of deficits: the Bush Tax Cuts, the wars overseas, and the causes and effects of the recent recession. By implementing a fair tax code, by building a resilient American economy, and by bringing our troops home, it achieves a budget surplus of over $30 billion by 2021.
2. Puts America Back to Work & Restores America’s Competitiveness
The CPC budget rebuilds our roads and bridges, ensuring that those who use it help pay for it. It rebuilds our education system by training more and better teachers, restoring schools, helping each student graduate, and supporting community colleges.
3. Creates a Fair Tax System
The CPC budget ends the Bush Tax Cuts and estate tax breaks and creates fair tax brackets for millionaires and billionaires. It ensures the banks that wrecked our economy pay a modest financial responsibility fee and that exotic trading by Wall Street traders is taxed. It guarantees that hedge fund managers do not get special treatment by taxing capital gains and dividends as ordinary income. It eliminates charity to oil companies making record profits from price gouging at the pump. And it taxes US corporate income as it is earned, in much the same way Americans are taxed.
4. Brings Our Troops Home
The CPC budget responsibly ends our wars that are currently paid for by American taxpayer dollars we do not have. It also realigns conventional and strategic forces, resulting in $2.3 trillion worth of savings.
Thanks for all you do!