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Senate Democratic Budget: An Investment in America's Future
November 16, 2013

Senate Democrats released a budget proposal to end sequestration, reduce the deficit, and invest in middle class Americans. With the economy still recovering, Americans cannot afford the senseless, arbitrary cuts of sequestration. Our budget restores funding in areas critical to future economic growth and prosperity, including education, infrastructure, and research. It also reduces the deficit by $1.2 trillion over ten years, by cutting spending strategically in ways that will incentivize government efficiency, reduce long-term health care costs, and simplify the corporate and income tax codes. This long-term deficit reduction demonstrates our commitment to fiscal responsibility and significantly improves our nation's long-term economic outlook.

The Senate budget cuts taxes for the majority of Americans, closes corporate tax loopholes, and reduces corporate tax rates to boost our economy, strengthen the middle class, and increase our global competitiveness. In the short run, the budget accelerates proposed tax cuts, providing Americans with a net estimated $315 billion in tax cuts. These changes will put money back in the pockets of hard working Americans, encouraging consumer spending and ultimately a stronger economy. Over the long-term, we phase out these accelerations while still maintaining lower statutory tax rates. These changes will continue to stimulate the economy so we see more robust growth over the next decade.

Over the next ten years, health care costs in our nation are expected to rise dramatically, destabilizing our ability to provide seniors and disabled Americans with high-quality health care. This plan increases the overall, long-term sustainability of two of our nation’s most important social safety net programs: Medicare and Medicaid, while also reducing long-term costs associated with the provision of health care. 

By restoring defense spending from the dangerous across the board cuts of sequestration, we make a strong investment in our nation's security

With this budget, Senate Democrats continue to demonstrate our commitment to the American people and to our future.

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    **This website is a forum on which participants in the PP250 budget simulation can communicate, collaborate and come together in character as players in the budget negotiation process. All statements and positions are purely academic, and do not express the opinions of the real personalities in DC, the Goldman School or the University of California**

    Authors

    Harry Reid (Jess Box)Patty Murray (Sarah Chevalier)


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