Young Praises GOP Budget Plan

by admin on March 20, 2012

Joining other members of the House Budget Committee on Tuesday, U.S. Rep. Todd Young, R-In., came out in support of the controversial budget proposal authored by Republican lawmakers that makes drastic cuts to federal spending and seeks to revamp Medicare.

Dubbed “The Path to Prosperity”, the fiscal plan was drafted by House Budget Chairman Paul Ryan, R-Wi., and cuts $5 trillion relative to the President Obama’s budget proposal. Supporters says it also reforms the U.S. tax code by lowering rates and closing loopholes, and the legislation blocks the president’s proposed tax increase on wealthier Americans to help lower the deficit.

“Americans deserve specific solutions to our debt and economic crises, and that’s exactly what we’ve given them,” Young said in a news release. “More than anything else, this budget puts our country on a path to balance. It gets the government out of the way of the private sector, reduces the risk of more credit rating downgrades, makes our corporate tax rate globally competitive to attract new investments, and preserves programs like Medicare and Medicaid for future generations.”

Political observers have noted the budget mirrors last year’s proposal, which divided Congress and created a severely bitter partisan debate in Washington. Unlike Mr. Obama’s and Democratic lawmakers, the GOP plan seeks to cut taxes, cap federal spending on domestic programs and reform healthcare and social safety net benefits.

But others have warned drawing such a stark contrast could once again backfire on GOP lawmakers in an important election year.

From The Guardian:

The riskiest proposal for the Republicans is the plan to shrink and reform Medicare to “empower with choices” by switching from federally funded healthcare for the elderly to government subsidies for private insurance.

“We propose to save and strengthen Medicare by taking power away from government bureaucrats,” said Ryan. “We believe competition and choice should be the way forward versus price controls that lead to rationing.”

The proposal is an amended version of one he introduced last year but was forced by the Republican leadership to abandon after a sharp reaction against it from elderly voters fearful of any tampering with the programme.

Opponents have blasted the bill as cutting programs important to the middle-class and poorer Americans while protecting the wealthy. The GOP-controlled House is expected to pass the measure, but it has little chance of making it through the Democratic-controlled Senate.

Young says the Senate should follow the House’s lead, however, and codify the spending plan.

“The Senate has not passed their own budget in over three years. They have unanimously rejected the president’s budget. Here again the House Budget Committee has tried to find common ground in our proposal, but we can’t participate in these discussions by ourselves,” he says. “Others may have ideas that we could embrace, but we’ll remain at an impasse as long as they stay on the sidelines. Our country needs everyone at the table.”

Comments Closed

Comments on this entry are closed.

Previous post:

Next post: