Jul 27, 2014
Would the Real Paul Ryan Please Stand Up?
On Meet the Press this morning, former Republican vice presidential nominee Paul Ryan tried to remake his record by trying to sound compassionate to struggling families. Ryan’s name is most closely tied to a budget that guts seniors’ services and shifts the burden to the middle class – all while protecting special interest tax breaks.
“As House Republicans push for a frivolous lawsuit and keep the door open to impeaching the President, Paul Ryan’s compassionate makeover looks even more phony,” said Josh Schwerin of the Democratic Congressional Campaign Committee. “The truth is in his own numbers: Republicans are bending over backward to stack the deck for special interests and shift the burden to the middle class, and no rhetoric can change the math.”
Republican Budget Would “Cut Pell Grants for Low-Income Students.” “Ryan's plan would also cut Pell Grants for low-income students and pensions for federal workers, while steering away from cuts to benefits for senior citizens, at least in the short term.” [Associated Press, 4/01/14]
Economic Policy Institute: Republican Budget Could Cost 3 Million Jobs. “On net, I estimate that the House budget resolution would decrease GDP by 0.9 percent and decrease nonfarm payrolls by 1.1 million jobs in fiscal year 2015, relative to CBO’s current-law baseline. The following fiscal year, when Ryan’s cuts to discretionary spending kick in, “The Path to Prosperity” would decrease GDP by 2.5 percent and cost 3.0 million jobs. And if the recovery remains sluggish, large job losses could continue under the Ryan budget in 2017 and beyond.” [Economic Policy Institute, 4/01/14]
White House: Republican Budget Would Raise Taxes on the Middle Class by $2,000. “House Republicans this week are voting on a budget that protects tax breaks for the wealthiest rather than create opportunities for middle-class families to get ahead. It is the same old top-down approach and would raise taxes on middle-class families with children by an average of at least $2,000 in order to cut taxes for households with incomes over $1 million.” [White House, 4/09/14]
- …But Would Give Millionaires an $87,000 Tax Cut. In April 2014, the White House reported that the Republican budget would give millionaires at least an $87,000 tax cut. [White House, 4/10/14]
- … And Protect $45 Billion in Subsidies for Big Oil. “His budget would also protect $45 billion in tax subsidies over 10 years to oil companies, the top five of which are already reaping $93 billion in profits from 2013 alone.” [Center for American Progress, 4/01/14]