U.S. Rep. Judy Chu (CA-32) and members of the Congressional Progressive Caucus today introduced a Fiscal Year 2012 budget in the House. "The People's Budget" will eliminate the deficit by 2021.
"A budget is about priorities and values," said Chu. "And Democrats priorities and values are those of the American people -- a strong middle class, a secure retirement for seniors, and fair and responsible spending cuts."
Highlights of the "The People's Budget" include:
* No cuts to Social Security, Medicare or Medicaid
* Creates jobs and sustains America's economic competiveness by making investments in infrastructure and education
* Implements a fair tax system by ending the Bush Tax Cuts and the estate tax, creating fair tax brackets for millionaires and billionaires, and maintaining tax credits for the middle class and students
* Brings America's troops home and ensures that our country's enormous levels of defense spending does not continue to burden us fiscally
"The Republicans have showed their true colors by proposing a budget that is stifles job growth and slashes away senior's safety net, while at the same time spending billions on tax breaks for Big Oil and corporations that ship jobs overseas," said Chu. "Democrats are committed to passing a responsible spending plan that strengthens America's future, protects our seniors, and puts people back to work."