U.S. Senator Tammy Baldwin and her Senate Democratic colleagues U.S. Senators Richard Durbin (IL), Debbie Stabenow (MI), Chuck Schumer (NY), Barbara Boxer (CA), and Chris Coons (DE) held a press conference today on the Ryan Republican budget, an unbalanced approach that will stall the economic recovery. The House of Representatives passed the Ryan Republican budget this morning and the U.S. Senate is expected to vote on the Ryan Republican budget before the end of the week.
"Ryan's budget isn't a balanced and serious solution to the challenges we face. It fails to confront the issue of wasteful spending in the tax code and puts up a road block for our economic recovery. It doesn't work for Wisconsin and it doesn't work for America," said Senator Baldwin.
The Senate Democratic budget focuses on moving the economic recovery forward. It makes smart investments in education, innovation, manufacturing, and infrastructure to grow the economy, help create jobs and strengthen the middle class. The Senate Democratic budget also reduces the deficit in a balanced way by cutting tax expenditures for millionaires, billionaires, and corporations that ship jobs overseas. The Senate Democratic budget builds on the $2.4 trillion in deficit reduction we've already done in the last two years with $975 billion in new responsible spending cuts and $975 billion in new revenue from the wealthiest Americans and biggest corporations--surpassing the bipartisan goal of $4 trillion.
The Ryan Republican budget, on the other hand, protects tax loopholes for the wealthiest Americans and biggest corporations and forces the middle class to bear the burden of deficit reduction. The Senate Democratic budget maintains promises to our seniors while the Ryan Republican budget repeals health care reforms that have strengthened Medicare. In addition, the Ryan Republican budget breaks the promise made to our seniors, privatizing Medicare and turning it into a voucher program.
"We have already put into place $2.4 trillion in deficit reduction and we got there through a balanced approach that has also moved our economic recovery forward. So we are moving in the right direction," said Baldwin. "Our budget reduces the deficit by cutting costly tax expenditures and wasteful spending. It takes the balanced approach that the people of Wisconsin have overwhelmingly, and consistently, supported."