Feb 02, 2014
FACT CHECK: Cantor Falsely Claims House Republicans Have Come Up With Job Growth Solutions
On Face the Nation this morning, Republican Majority Leader Eric Cantor falsely claimed that House Republicans have come up with real job growth solutions to help Americans who live from paycheck to paycheck.
In fact, Congressional Republicans have hurt the middle class by protecting taxpayer subsidies for their special interest backers and the ultra wealthy while refusing to raise the minimum wage or extend unemployment insurance.
Congressman Paul Ryan’s Budget Proposals Would End Medicare Guarantee and Increase Costs for Seniors While Giving Millionaires and Corporations a Tax Break. In 2011, the Wall Street Journal reported that Ryan’s budget proposal “would essentially end Medicare” and the CBO estimated that the 2011 budget would cost Medicare beneficiaries $6,400 more annually. A CBPP of Ryan’s 2013 budget proposal found: “It would cut the corporate tax rate to 25 percent (from 35 percent) and greatly cut taxes on corporations’ foreign profits […]filers with incomes of $1 million or more would lose tax breaks totaling about $90,000 on average- still leaving them with an average net tax cut of about $245,000.” [Street Journal, 4/04/11; USA Today, 10/03/11; Center on Budget and Policy Priorities, 3/17/13]
House Republicans Have Voted Repeatedly Against Extending Emergency Unemployment Insurance for 1.6 Million Americans Whose Benefits Expired. House Republicans voted three times in January 2014 and once in December 2013 against considering extending Emergency Unemployment Compensation for three months. As of January 2014, unemployment benefits had expired for 1.6 million Americans. [HR 7, Vote #29, 1/28/14; H Res 458, Vote #19, 1/15/14; H Res 455, Vote #5, 1/09/14; H Res 438, Vote #637, 12/12/13; Washington Post, 1/31/14]
House Republicans Voted Against Raising the Minimum Wage, Though it Would Benefit as Many as 30 Million Americans and Generate 140,000 New Jobs. In 2013, House Republicans voted against increasing the minimum wage. Upon enactment, the measure would have increased the federal minimum wage from $7.25 to $8.20 within three months. A year from this date, the federal minimum wage would increase from $8.20 to $9.15. A year from this date, the federal minimum wage would increase to $10.10. According to the Economic Policy Institute, “Increasing the federal minimum wage to $10.10 by July 1, 2015, would raise the wages of about 30 million workers, who would receive over $51 billion in additional wages over the phase-in period. […] Across the phase-in period of the minimum-wage increase, GDP would increase by roughly $32.6 billion, resulting in the creation of approximately 140,000 net new jobs (and 284,000 job years) over that period.” [HR 803, Vote #74, 3/15/13; Economic Policy Institute, 3/13/13]