Today’s vote illustrates once again that the House Republicans’ view of the economy is a top-down approach that cuts taxes for millionaires and could raise taxes on middle class families with kids by an average of at least $2,000.
If the budget the House Republicans voted for today was enacted and its deep cuts compared to what the President has proposed fell across the board, within a few years, more than 1.1 million people could lose access to job training and employment services, more than 600,000 students could lose Pell Grants that help pay for college, and approximately 170,000 children could lose access to early-childhood education. Critical investments in our roads and bridges and scientific research to cure diseases like Alzheimer’s also could see drastic cuts. And rather than expanding health coverage for all Americans and making it more affordable, the House Republican Budget would repeal the Affordable Care Act, raising health care costs on families and businesses and eliminating coverage for millions.
The President believes we need to grow the economy from the middle-out, not the top down, and expand opportunity for all hardworking Americans. Rather than once again putting forward a top-down approach, House Republicans should join the President and Democrats in taking steps that would strengthen the economy and create opportunity, like raising the minimum wage, extending emergency unemployment insurance, advancing paycheck fairness, and passing bipartisan immigration reform.