House Budget Plan: Mixed-Up Priorities
A new U.S. House budget plan for federal FY2013 is short on many specifics, but its general point is clear: rapidly accelerating cuts in crucial supports for low- and moderate-income families, pushing more into poverty. Congress already had agreed to a decade’s worth of deep cuts as a result of its debt-ceiling negotiations last year.
However, the FY13 proposal unveiled this week by House Budget Chairman Paul Ryan would slash a wide variety of priorities far more deeply over the coming decade, ranging from Pell Grants to the Supplemental Nutrition Assistance Program (food stamps).
The proposal would greatly reduce taxes in ways that would primarily benefit better-off households and grow the federal deficit, while eliminating yet-unspecified tax credits – cause for concern among working families who depend upon the help of the Earned Income Tax Credit, Child Tax Credit and American Opportunity Tax Credit. House lawmakers soon could take-up the proposal.
And while it would not pass in the Senate, the plan certainly underscores the hyper-partisanship that’s likely to continue dominating negotiations over the budget for the fiscal year that begins in October, on the eve of national elections.
By Sean Noble, Director of Public Policy & Research