Senat Budget Chairwoman Patty Murray advanced the first Senate budget in 4 years, over 1,400 days. Murrays budget calls for $975 billion in new tax increases over the next decade. The budget also contains some techniques that can make those tax increases even higher. It creates special funds to offset new spending and replaces the sequestration cuts. Minority budget staff estimates the Murray budget could raise taxes by over $1.5 trillion. Which will definitely help towards balancing budget and lowering our debt. She will also attempt to stabalize the debt to GDP ratio.
The plan calls for $1.85 trillion in defecit cuts over the next decade. It calls for $975 billion in spending cuts split among health care programs, defense and other domestic programs. Her budget protects Social Security, with little to no changes. Another $975 billion will be raised by an overhaul of the tax code. It will eliminate certain deductions that are typically used by ths wealthy and large corporations. It will also eliminate many of the tax loopholes that cost us hundreds of billions of dollars a year, the ones Republicans want to protect. Tax rates will stay the same on lower and middle classes. The plan also calls for $100 billion of new spending on infrastructure and job creation.
Murrays plan taxes the wealthy to preserve programs for tge poor and middle class. This is how President Obama and the Democrats won the last election. It is a budget that focuses on the next 10 years. She does not get overzealous attempting to cut the defecit in 10 years. She does it in an intellegent and gradual manner. It will not pass because Republicans refuse any more revenue. This budget harms does more for people than the Paul Ryan hokey pokey.
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