This week, the House will vote on the extreme House Republican budget proposal for Fiscal Year 2015. The Republican budget would undermine our nation’s future. It shows the Republican vision of a nation that protects the wealthiest at the expense of job creation, educating our kids, investing in a strong infrastructure, or keeping our promise to our seniors.
- This proposal fails to include job-creation and fiscally responsible proposals, such as extending unemployment insurance, raising the minimum wage, or bipartisan comprehensive immigration reform.
EDUCATION AND RESEARCH
- Early childhood education would be cut by $19 billion, pushing about 170,000 children out of Head Start and impacting as many as 3.4 million disadvantaged students and 8,000 schools.
- K-12 education would see $89 billion cut, including $35 billion from Title I.
- Higher education would be cut by $260 billion, including $145 billion in cuts to the Pell grants that help make college affordable for lower and middle income students and putting students $41 billion higher in debt – $3,800 for a student who borrows the limit – as they accrue interest while still in school.
- Scientific research in health and discovery would take drastic cuts, with the National Institutes of Health (NIH) reducing the number of new grants by 1,400 and the National Science Foundation (NSF) by 2,400.
- Infrastructure projects would see investment cut $173 billion over the decade, including $52 billion in 2015.
- The benefits of the Affordable Care Act would be repealed, throwing millions off their health insurance and eliminating free preventative services and the closing of the donut hole for seniors.
- The Medicare guarantee as we know it would end, replaced by a voucher program that pushes costs onto seniors.
- Medicaid would be cut $732 billion over the next 10 years – by a full quarter in 2024 alone – which could impact one of every three children in America and put low income seniors in jeopardy.
- The Supplemental Nutrition Assistance Program (SNAP) is cut by over $125 billion.
- The budget proposal includes unspecific tax increases of approximately $4 trillion due to tax rate cuts for highest incomes.
- In order to pay for these tax cuts for the wealthy, important tax preferences would be repealed and middle class taxes would go up.