Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor on the CBO’s projection showing that the Republican plan to balance the budget in 10 years and keep Trump-era tax cuts is impossible without stripping Americans of essential benefits. Below are Senator Schumer’s remarks, which can also be viewed here:
Today, CBO released a letter confirming what most of us already knew: the Republican plan to balance the budget in ten years, and keep the Trump Tax cuts, is impossible — mathematically impossible!—without making cuts to Social Security, Medicare, defense, and veterans’ benefits.
To balance the budget in 10 years, with no new revenues, while somehow leaving Medicare, Social Security, veterans’ programs, and defense unscathed, Republicans would have to cut 86% from every other federal program. That means nearly obliterating funds for Medicaid, for food and housing support, border security, healthcare, infrastructure.
This leaves Americans with a profound worry about their benefits and it leaves Americans with some big questions down the road. If Republicans can’t reach their goals without forcing severe cuts down Americans’ throats, then what exactly are they planning to do? To date, Republicans have refused to talk straight with the American people about budget cuts.
Speaker McCarthy, today is March 14th. Show us your plan!