The Senate Budget Committee Chair and senator Bernie Sanders talking about the 2018 budget. The senate has up to 50 hours of debate on the budget bill followed by a series of votes on amendments likely to go late into the evening on thursday. This month the Senate Budget committee took an important first step toward tax reform by approving a fiscal year 2018 budget resolution focused on growing the economy through tax policies that would put money in the hands of hardworking americans. This week we take the next step as we begin debating the budget blueprint among overdue tax relief for families and job creators that will jumpstart Economic Growth. Is Crucial Congress approves this framework to eliminate the dated and stifling tax policies that are holding back American Investments and productivity. As Budget Committee chairman, pat that congress and the president are attacking these important issues. After eight years of stagnant growth her nation needs a simpler, fairer and more transparent tax system that will be more dollars in the pockets of hardworking families. The last Time Congress was able to accomplish largescale tax reform was 1986. Think of how much has changed in the country in the world and those 31 years, including our tax code. Our tax codes are incredibly complicated and work to slow our economy our current tech system benefits for base companies while harming u. S. Companies and employers. We asked why jobs are leaving this country, big reason is the hostile tax landscape. The Senate Budget aims to reverse this trend by setting the stage for progrowth tax reform to lower taxes by annette 1. 5 trillion over ten years. These reforms, if done right will boost investment, boost wages and boost productivity at home. Progrowth tax reform should reward hard work, reward savings, encourage investment. It should broaden the tax base streamline our tax laws, and limit government distortion of marketbased decisions. The text policy should provide for a globally competitive Corporate Tax rate in an International Tax system that does not penalize u. S. Companies. Its no secret the policies influence the everyday dollars and since decisions of individuals and Small Businesses. They help drive decisions as whether to work an additional hour or invest in capital. This is why Economic Experts know that potential growth should always be considered when talking about tax cuts. The joint committee on taxation states that tax policy can directly influence the level of labor supply, physical capital and technology in an economy, by changing the aftertax returns to certain Economic Activities are changing the cost of pursuing that activity. Progrowth reform removes a government distributions of andr resources to be reallocated from producing the best tax act to whats the best economic use. This efficiency will lead to increased investment, increased growth of businesses, and higher economic output for gross domestic product, gdp. In fact, increasing gdp from privatesector growth can provide additional dollars to the treasury. Let me repeat that. Better tax policy will boost the value of everything we produce and this means more revenue for the federal government. According to congressional budget office, one tenth of the percentage point increase in productivity could increase revenue in the treasury by 273 billion over ten years. That is one tenth of a percentage increase producing 273 billion over ten years. The return of our historic average growth would decrease spending deficits by over 2 trillion in the ten year window. More than enough to pay for the decrease in revenues assumed under static scoring conventions that dont account for Economic Growth. In addition, it is a serious fiscal plan. If congress and the administration can adhere to this blueprint will take steps to get our fiscal house in order and restrain spending, reduce tax burden and grow the economy. The Budget Committee has put together responsible budget that provides a path to creating a more effective, Efficient Government for hardworking taxpayers. To accomplish this, the budget proposes five and one tenth trillion in savings over the next ten years while investing in a Strong National defense, providing for the care of citizens and not touching Social Security. From the start the budget was focused on achieving on budget balance. By 2026 the resolution would improve regulatory landscape would generate a 79 billiondollar on budget surplus. This would rise to 197 billion by 2027. In addition the reforms propos proposed. It also continues efforts to respond to concerns about broken budget process. It promotes curtailing budget, increasing honesty and inaccuracy by government scorekeepers and ending the spend all pay later mentality of washington. Its important to note the thorough and robust process that produced this budget resolution, more than 150 amendments for both sides are filed in 29 were voted on. This budget reflects bipartisan input and includes five amendments accepted by democratic members of the committee. The next step will build on the open and Transparent Committee process. The majority leader and the chairman have promised that tax reform legislation will move through the committee process. In any words any speculation youve heard about were the taxes is not right. It has a process to go through. This will provide finance Committee Members the opportunity to offer amendments before the full Senate Considers the legislation. It will be considered on the committee and then the floor. Moves to the senate floor every amendmenmember can offer amendms before voting. This budget serves as a framework to expand Economic Opportunity for each and every american. Reflects our belief in the american spirit went by allowing American Families and Small Businesses to keep more of their dollars they will enervate and invest money in ways that will grow the economy. Our nations best days and those of its citizens are ahead of us. The time to act is now. We dont change course nation will continue to experience a sluggish Economic Growth of last decade. I urge my colleagues on both sides to support americas hardworking families and employers and help at the nation on a better course. Approving the budget focused on progrowth tax reform does that. I yield the floor and yield the balance of my time. I ask unanimous consent to be permitted to repeat my and the marks the for the recess. Another budgets are not particularly sexy and exciting discussions and a lot of people wonder about a trillion here in a hundred billion there, what does it all mean . It means a lot. What it means is if this horrific republican budget is implemented, what it will mean his enormous amount of pain for tens and tens of millions of workingclass and middleclass and lower income people in this country. Thats what it means. Mr. President , after failing to pass a socalled healthcare bill that would up to 32 million americans off the Health Insurance they currently have, a bill that was widely opposed by the American People. Donald trump of the Republican Leadership are back again. While i totally disagree with what theyre trying to do, i do appreciate they are not giving up in terms of trying to protect the interest of the billionaire class against the vast majority of the American People. The republicans are now pushing one of the most destructive and unfair budget and tax are proposals in the modern history of the United States. The plan that would do incalculable harms to tens of millions of working families, children, the sick, the elderly, and the poor. Republican budget that we are debating on the boat floor of the senate this week is the robin hood principal in reverse. Robin hood took from the rich and gave to the poor. What this budget is take from working people, the working class, the elderly and the poor to give massive tax breaks to people who are already living in incredible opulence. Donald trump and the Republican Leadership claims their plan would provide a big League Tax Cut for the middle class. Nothing could be further from the truth. According to the tax policy center, by the end of this decade nearly 80 of the tax benefits of the republican land will go to the top 1 . Even more incredibly, the top one tenth of one person, one tenth of 1 would receive some 40 of the tax breaks over a tenyear time. A tax proposal which gives 80 of the benefits to the top 1 , 40 to the top one tenth of 1 is not a tax proposal benefiting the middleclass working families of this country, its a tax repose designed to benefit the wealthiest people in the Campaign Contributors of the billionaire class. Mr. President , this budget cuts medicaid by more than 1 trillion over ten years. Thats strange. The United States of america is the only major country under that does not guarantee healthcare tall people. The American People want is to join the rest of the world and understand that healthcare is a right, we should not have 28 Million People without Health Insurance and even more underinsured with high deductibles and high copayment. Yet what this budget does unbelievably is to throw 15 Million People off the Health Insurance they have with a trillion dollars cut in medicaid. I would hope the chairman might tell us what happens to somebody today who is struggling with cancer, with heart disease, with diabetes, with a lifethreatening illness who suddenly loses the medicaid insurance they have. I would hope some of my republican friends would say what happens. Study after study shows us that thousands of people will lose their life because they no longer have access to the Health Insurance they had. Further this budget does what republicans have not yet attempted to do during the past year and their health care legislation, and that is to make a 473 billion cut to medicare. That only a trillion dollar cuts to medicaid, 473 billion cut to medicare. Interestingly enough, Many Americans will recall that during his campaign for president , donald trump told the American People that he would not cut Social Security, medicare and medicaid. He said that over and over again. On april 18, 2015 this is just one quarter many he said and i quote, every republican wants to do a big number on Social Security. They want to do it on medicare and medicaid, and we cant do that. Its not fair. To the people that have been painted for years and now all of a sudden they want to be cut that is donald trump running for president. I would say to President Trump, thats what she told the American People during your campaign. Now i hope youll tell your republican friends right here in the senate that they should respect the Campaign Promises you ran off and if they pass a budget that cuts Medicare Medicaid, that you will be all that legislation. I hope the president has the integrity to do that. I dont think he will, but i would hope he does that. Mr. President , poll after poll tells us the overwhelming majority of the American People to not Want Congress to cut medicare or medicaid. In fact, in this country today if you ask people what their deepest concern, theyre concerned about jobs and income and even more so theyre concerned about the healthcare they have, how much they cost and whether they will have it tomorrow. Poll after poll tells us the American People do not Want Congress to cut medicare. That is the most popular Health Insurance program in this country. They dont want to see it cut because they know that about two thirds of nursing home dollars comes from medicaid. If you have a mom or dad dealing with all summers or some other terrible illness in a nursing home a massive cuts to medicaid are made, what will happen to your parents in the nursing home . People do not want to cut medicare and medicaid. A recent poll finds 85 of republicans and 94 of democrats want to maintain or increase funding for medicare. 60 of americans oppose slashing medicaid according to a recent poll. Recent wall street journal nbc poll finds that only 12 of the American People believe the wealthy should receive a tax cut while 62 believe the wealthiest people in our country should pay more in taxes. So, what you have is the American People say dont cut medicare, dont cut medicaid, dont give tax breaks to billionaires. Ask them to pay more in taxes. That is where the American People are coming from weather democrats republicans or independents. The question arises, why is the Republican Leadership bringing forward a budget that does the opposite of what the American People want . The answer to that question im sorry to say is not complicated, it has everything to do with a corrupt Campaign Finance system that allows billionaires in the wealthiest people in this country to exert their influence over the political process. The increasingly sought the ordinary americans, the middle class worker that Congress Listens to, but will Campaign Contributors. Today, we have a corrupt Campaign Finance system that enabled multimillionaires along with some of the most powerful ceos in america to contribute many hundreds of millions of dollars into the political process. Many of us believe the concept of democracy is one person one vote. Sometimes you win, sometimes you lose, majority wins and thats what we teach the children in the fifth grade and sixth grade. One person, one vote a majority wins. As a result of the disaster Citizens United Supreme Court decision, the american Campaign Finance system has been corrupted and we now have a situation where really near families can spend unlimited sums of money to help elect candidates who protect their interests. Not only can they spend that money, thats exactly what theyre doing. There is an interesting says, the Koch Brothers and their friends what present trump tax cuts very badly. This is what it says. The message from the billionaire and i should say a word about the coke brothers. They are the second wealthiest family in america. Theyre struggling to catch up to the waltons, not quite there yet. Theyre only worth 90 billion. Struggling, but getting by. And with that 90 billion, what they are doing along with a few of their friends spending hundreds and hundreds of millions of dollars every Campaign Cycle to elect people, in this case republicans who support their agenda. Thats what the article said. A message for the billionaire lead coke brothers and the Republican Congress that help to shape couldnt be more clear. Pass attacks overhaul, or else. As the donors mix and mingle from a policy summit at the Saint Regis Hotel in midtown manhattan last week, just a block south from trent lott tower came off again and again. Oh, its the most significant federal effort we have ever taken on. Network, and advocacy and Political Organization describe the legislative push for attacks overhaul as an inflection point. I do or die moment to find whether there efforts will pay off or not. Network leaders plan to dedicate much of their twoyear, 400 milliondollar politics and policy budget so they wouldnt give an exact number. 400 million in the next two years to pass this piece of legislation. And this comes from a family, the coke brothers are pretty upfront about what they believe. They did not want to cut Social Security or medicare or medicaid. Take that, but thats not their goal. They want to eliminate Social Security, medicare and medicaid and virtually every other federal program that provides help working families of this country. And by the way, just in passing, if the estate tax which is part of the republican budget is three po, we want might want to mention that the coke brothers family would see a benefit of some 30 billion. So if your family is going to get a 30 billiondollar benefit, putting a few hundred Million Dollars into seeing that legislation passes not a difficult idea. Mr. President , this fidget legit makes it clear to the republicans in congress are listening to and it is not the middle class and working families who do not want to see Medicare Medicaid cuts and certainly dont want to see a 1. 9 trillion tax break for the top 1 . Afraid my republican colleagues are listening to their top Campaign Contributors who told the Republican Party in no Uncertain Terms that if they dont get their tax cuts. It provided republicans with hundreds of millions of dollars in campaign contribution. How sad is that. Think about the brave americans who have fought for democracy over the years, some never return from the battlefields to fight for an american democracy that makes us a country where people rule. Word government of the people, for the people by the people not of the billionaires, and for the billionaires. The speaker about something else. The entire economic theory that Senate Republicans and President Trump have embrace with this budget is called trickledown economics to give tax breaks and the benefits trickledown and improve the economy. The whole theory is a fraud and has been an adjustable failure. With Ronald Reagan and george w. Bush taxes on the wealthy and directed wall street, trillions of dollars have been redistributed in the middle class and working families to a handful of millionaires and billionaires. Today we have more wealth and income inequality than at any time since the 1920s. The top one tenth of 1 almost as much wealth as the bottom 90 . This budget makes a bad situation worse by widening the gap with its cuts to social programs and gifts to the top 1 . Republican budget were debating would make horrific cuts for the needs of working families. Let me give you a few examples. This budget we give the wealthiest family a tax cut of 52 billion. Does anybody in their right mind think the wealthiest family needs a tax break of up to 52 billion . They do that by repealing the estate tax. At the same time if your low income Senior Citizen and we have too many of vermont try and figure out how to keep warm in a cold winter, you and 700,000 other Senior Citizens and families might not be a keeper homework because of the cut of 4 billion to the Home Energy Assistance program. The budget says if youre the second wealthiest family in america, the coke brothers your family will see a tax break up to 33 billion. But you your workingclass kid right now in high school and year scratching your head as to how you can afford to go to college. In your competitions youre looking at what a pell grant might mean to, this budget would cut over 100 billion in pell grants and other Financial Assistance programs. This budget gives members of the trump family a tax cut of up to 4 billion. If your low income pregnant women, you and over a million other new moms, babies and toddlers may not get the nutrition you need thanks to a six and have billion dollar cut to the wic program. At a time when working class families all across this country a pain 4050 or more for the housing they need, this budget eliminates Housing Assistance for more than a million families due skyrocketed, the republican budget eliminates headstart services for 25000 children each and every year by cutting this program by 3 billion programs. In total, the republican budget cuts for the 5 trillion from education, healthcare, affordable housing, childcare, transportation and other programs that people desperately need over the next decade. Whats alarming is that despite this give way to the billionaire class, the coke brothers is not enough. They want more. Let us be clear their eventual goal, not to their tumor but eventual goal is to see programs like Social Security, Medicare Medicaid are completely eliminated. Let me conclude by saying, this budget is not a budget for the people of texas. Its not a budget for the people of vermont or wyoming, or the people of the United States of america. This is a budget for the billionaire class which is already doing phenomenally well. This is a budget for Campaign Contributors is great has no end. To provide millions of dollars to candidates to represent their interests. This is a budget that must be opposed by the American People and i urge the American People to tell members of the senate to vote no on this budget. With that, i yielded the floor. The seasick and buses travel across the country on the 50 capital store. We recently stopped in charleston, West Virginia asking folks what the most important issue in their state pgh so, prelaw major at the university of charleston. I think the most important issue is somewhat twofold. Think its an issue of poverty which also goes into her drug epidemic. Lack of jobs and opportunity makes the drug epidemic worse. Its a cycle that builds upon itself. Im a senior Political Science major and one of the biggest issues is the governor pushing for a special election thats going to pump millions into infrastructure which sounds nice but when you look at the big picture will hurt my generation of millennials in the future. Said it wont raise taxes or be a problem, but if you look down the road it will just mess with us long term and we dont need that. West virginia with had difficult Economic Times over the past five or six years. One of our Top Priorities this to improve our economy and get people back to work. Weve had great deal of different steps to do that. Thats our priorities are
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