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Public Statements

The Republican Budget

Floor Speech

Location: Washington, DC

Mr. LOWENTHAL. Mr. Speaker, Congressman Ryan's current budget proposal is a harsh austerity program that seeks to reduce the deficit on the backs of our Nation's most vulnerable while only benefiting the special interests and the Nation's ultrawealthy.

Under this plan, more than 30 million Americans now covered by the Affordable Care Act, including more than 70,000 residents of my district, would be at risk of losing their coverage.

Medicare as we know would cease to exist for more than 5 million future seniors, and over 3.5 million seniors today would lose Medicare preventative care coverage.

This plan also jeopardizes our Nation's economic recovery. The Economic Policy Institute estimates the plan will cost more than 2 million jobs in the next year, reduce the GDP by 1.7 percent, and literally stall the economy through 2017. This is neither the balanced nor rational approach that we need.

I want to work with my colleagues here in the Congress to pass a budget that creates jobs, grows the economy, strengthens the middle class, and responsibly reduces the deficit.

Sadly, this is not that plan.

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