The CPC budget

Continuing from the last post, and proving Reich right, compare the regressive budget with the one from the Congressional Progressive Caucus. HUGE difference. Some highlights:

FAIR INDIVIDUAL TAXES

Implements a new Hard Work Tax Credit for households earning less than $150,000.

Returns to Clinton tax rates for households making over $250,000 and implements new brackets for those making over $1 million.

Equalizes tax rates for investment income and income from a hard day’s work. 



FAIR CORPORATE TAXES  

Eliminates the ability of U.S. corporations to defer taxes on offshore profits.   

Enacts a Financial Transaction tax on various financial market transactions.  

Implements Chairman Dave Camp’s financial institution excise tax.


HEALTH CARE

Protects and strengthens Medicare and Medicaid without cutting benefits for seniors.




Builds on Affordable Care Act savings and successes, including implementing a public

Option and expanding payment reforms.




Allows states to transition to single-payer health care systems.

DEFENSE



Modernizes our defense posture to create sustainable baseline defense spending. 

Ends emergency funding for Overseas Contingency Operations.  

Increases funding for diplomacy to stabilize key world regions and for the Office of Economic Adjustment to assist in responding to defense program shifts.

SOCIAL SECURITY 

Endorses “Scrapping-the-Cap” and expanding Social Security benefits separately from the federal budget process.