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Federal Legislative Update WEEKLY FROM AMERICANS FOR PROSPERITY
IN THESE EXCLUSIVE AFP WEEKLY NEWS LETTERS YOU WILL FIND
Highlights
WHAT IS GOING ON IN U.S. House AND U.S. Senate
WHAT HAS Recently Passed
Legislation to Watch WHAT IS COMMING UP
Important Dates KEY DATES TO KEEP IN MIND
Work Schedule Remember they work for us here is how to keep tabs on what they are doing on the Peoples behalf
AFP Key Votes and Letters of Support
Current Action Alerts HERE IS WHERE OUR ACTION TEAM COMES IN
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Federal Legislative Update
For the week of February 7
Highlights
U.S. House
U.S. Senate
Recently Passed
Legislation to Watch
Important Dates
Work Schedule
House in session: Feb. 8-17, 28-Mar. 17
Senate in session: Feb. 8, 15-18
AFP Key Votes and Letters of Support (Full List)
Current Action Alerts
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Please see below for a comparison of FY2012 budget proposals put forth by President Obama, Chairman Ryan and the RSC. Chairman Ryan presents a solid policy document with a vision for an America with a limited government. The RSC has larger cuts in the first year and balances the budget “within the 10-year window.” President Obama predictably punts on all the hard questions and continues his unabashed growth of government.
You can also find the breakdown online by clicking here. Please feel free to distribute this widely, as you see fit.
Comparing the Budget Proposals from President Obama, Chairman Paul Ryan and the Republican Study Committee
- April 2011 -
Overview
House Budget Committee Chairman Paul Ryan and the Republican Study Committee (RSC) have released two separate budget proposals for FY2012. Both differ significantly from President Obama’s vision of ever-expanding government as laid out in his FY2012 budget proposal released earlier this year. While the tax plans of these two new proposals are identical, reducing taxes by $1.8 trillion when compared to the president’s proposal over ten years, both cut trillions of dollars in federal spending and reduce deficits over the next ten years. The RSC achieves more aggressive spending cuts in both discretionary and mandatory spending, further reducing the economy-crushing budget deficits proposed by the president, and balancing the budget by the year 2020.
The RSC’s efforts at accelerated spending cuts are laudable; we need to get control of the nation’s deteriorating fiscal situation right now. Cutting $387 billion from the president’s budget in FY2012 alone (a full $208 billion more than the chairman’s proposal) is a good start. However, too-aggressive cuts to the nation’s largest entitlement programs (Medicare, Medicaid, and Social Security) may not be politically viable and may undermine efforts at tackling the nation’s fiscal problems. Chairman Ryan’s proposal offers a more sustainable and politically-viable vision for reforms to these entitlement programs.
Headline Numbers – When compared to the chairman’s budget, the RSC budget has an additional $3.3 trillion in spending cuts, including an additional $208 billion in cuts in FY 2012.
In terms of total federal outlays, both proposals work to limit government spending. Chairman Ryan’s proposal reduces spending by $6.2 trillion when compared to the president’s budget, including $179 billion in spending cuts in 2012 alone. As a share of the economy, the president proposes a much larger public sector presence, keeping federal spending as a share of GDP at nearly 24 percent in 2021, far above the 40-year average of 20.8 percent. Chairman Ryan would reduce this public sector presence, reducing federal spending as a share of GDP to 19.9 percent by 2021. The RSC proposal is more aggressive in achieving spending cuts, cutting an additional $3.3 trillion from spending over ten years, including $208 billion in additional cuts in 2012.
On the revenue side, Chairman Ryan has proposed reducing tax revenues by $4.2 trillion over ten years when compared to the CBO baseline, a full $1.8 trillion in tax cuts when compared to the president’s proposal. The proposal makes permanent the 2001 and 2003 tax cuts that were recently extended only to 2012; individual income tax revenues are reduced by consolidating the current six brackets and cutting the top rate from 35 to 25 percent; the corporate tax rate is reduced from 35 to 25 percent; and finally it eliminates over $800 billion in tax increases that were set to kick in under ObamaCare. Revenue reductions are offset by efforts to broaden the tax base – the proposal eliminates or modifies a significant number of deductions, credits, and other tax expenditures. This brings tax revenues back to their historical average of approximately 18 percent of GDP, whereas the president’s proposal would further raise taxes, taking a total of 19 percent of GDP in federal revenues. The RSC has announced that its tax reform proposal is identical to the chairman’s. more in AWAKEN ALERT SENT 4/11
Both budget proposals make a strong effort to control deficits over the next ten years (see chart). Compared to the president’s proposal, the chairman’s budget reduces deficits by $4.4 trillion, with $168 billion in deficit-reduction in FY2012 alone. With their more
FROM AMERICANS FOR PROSPERITY
Paul Ryan put out an excellent video on Medicare that explains its dire fiscal situation and debunks some of the claims about how it “pushes granny off the cliff.” I would encourage anyone writing on this topic to include the video in their communications. Enjoy!
Federal Legislative Update
For the week of May 30
Highlights This Week
U.S. Senate
U.S. House
Last Week: Recently Passed
U.S. Senate
U.S. House
Legislation to Watch
Current Action Alerts (Full List)
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