This week, House Budget Committee Chair Paul Ryan released his budget plan for fiscal year 2014. As expected, the Ryan plan again cuts programs Americans need while neglecting to raise any revenue. Check out what the Center for American Progress has to say about his tax plan:
There was probably no single topic discussed as comprehensively during the 2012 presidential campaign as the issue of taxes. Rep. Ryan and his running mate, former Massachusetts Gov. Mitt Romney, promised dramatically lower marginal tax rates paid for by the reform of tax expenditures. But Gov. Romney and Rep. Ryan famously refused to detail exactly how that plan would actually add up.
The current House Republican budget runs the same play again. They’ve promised lower rates, no revenue loss, and no way to make the numbers work. And just like the Romney tax plan, there are only two possible outcomes with the Ryan plan: a tax hike on the middle class or a massive increase in the debt. Either way, the plan offers enormous tax breaks for the rich—and either way, the American people were very clear that this was not the direction in which they wanted to go.
Details of Patty Murray’s budget have not yet been presented, but the general framework has been released. Though her budget is not perfect, it includes almost $1 trillion in new revenue, with an equal amount of spending cuts. The Murray budget is the only one that is a balanced approach.