House Republicans have tried to make those who can’t afford food, rent, or health care pawns in their debt-ceiling hostage-taking scheme. @POTUS and members of Congress must not go along.
.@POTUS has repeatedly committed to reject any legislation that increases poverty or would negatively impact people’s health. Now is the moment to deliver on those commitments. #DebtCeiling
The White House & congressional Democrats must hold the line against House Republicans’ harsh & ineffective policies that would take away #TANF income assistance, #SNAP food assistance, and Medicaid from people who don’t meet a work-reporting requirement.
Of the 1M children at risk of losing vital #TANF income support under the House R bill, 500k wld be pushed into - or further into deep poverty (below 50% of the pov line) - w/o that support. 35% of those children are Black; 30% are Latino, 31% are white.
Their #SNAP proposal would put 1 million older people at risk of losing vital help affording enough to eat. And there are reports that House Rs have asked for even harsher changes to the current SNAP work requirements at the negotiating table.
Let’s be honest: these proposals aren’t about increasing employment or addressing deficits; they are attacks on those who can’t afford the basics & face the most barriers to opportunity. Their well-being should not be ransom.
30 years of evidence have demonstrated that red-tape laden “work requirements” are a failure. They do not increase employment, but they do drastically increase hardship for communities and families. @POTUS & Congress must reject them.
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Thread: concerns based on emerging reports about #DebtCeiling bill. Before we dive in, important to remember, we shouldn't be here to begin with. House Rs have used the debt ceiling to hold the nation’s economy hostage to demands for damaging policies.
While the #DebtCeiling agreement appears to be much improved over the radical House bill, that’s not the bar.
Based on reports, the agreement appears to put #SNAP benefits at risk for people ages 50-54 who count on them – a group with high rates of health problems. We can’t fully assess until details are released, but this risks increasing poverty among this group.
Thread: Policymakers need to find a path to a compromise #BuildBackBetter bill that makes significant progress toward more broadly shared prosperity, is based in evidence, and can pass.
Economic insecurity was widespread even prior to the pandemic. 1 in 4 households couldn’t afford adequate food, shelter, or utilities at some point between 2014-2016.
Insecurity went well beyond households that had incomes below the #poverty line. Many middle-income households couldn’t pay their bills in at least one year, sometimes because their incomes fell or costs rose.
The new CBO score confirms that #BuildBackBetter is fiscally sound. Thread.
First, when you adjust the CBO score by using Treasury’s higher but reasonable estimates of the revenue raised from increased IRS enforcement, #BuildBackBetter is more than fully offset over 10 years.
Second, even if you stick with the lower CBO estimates of the IRS enforcement provisions, the bill costs less than 0.1% of GDP in the first decade and substantially reduces the deficit in the second decade.
Thread: Senate Budget Committee Democrats’ agreement on a budget resolution marks an important step toward robust and critically needed recovery legislation to build an equitable economy and address our nation’s long-standing challenges. #EquitableRecovery
There are many key details that haven’t been released and, in some cases, haven’t been worked out, but the last 48 hours demonstrate encouraging progress towards transformative change.
Once a budget resolution is in place, lawmakers will turn to the important work of crafting reconciliation legislation, consistent with that framework, that can transform our economy…
Check out @CenteronBudget’s new (short!) piece on why the tax system needs to be improved. Incomes for the very wealthy have grown substantially but the share of income they pay in taxes has shrunk.
The highest-income 0.01% of tax filers (the top 1 in 10,000) saw their incomes rise on average by 601% in inflation-adjusted terms between 1979 & 2017. Yet from the mid-90’s through 2017, the average share of the income that the top 0.01% paid in federal taxes fell by almost 20%.
Yet from the mid-90’s through 2017, the average share of the income that the top 0.01% paid in federal taxes fell by almost 20%.
The budget the Biden administration released today is a bold approach to addressing many of the nation’s long-standing problems and building toward a more equitable economy where everyone can thrive: cbpp.org/press/statemen… 1/
Its policies are designed to make significant progress in reducing racial & ethnic disparities, rooted in racism & other forms of discrimination, that for generations have resulted in deeply unequal access to #jobs, #education, #housing, & #health care. 2/
First, the budget includes investments to build toward a strong and #EquitableRecovery that would dramatically reduce child #poverty and help children thrive, improve our nation’s health, and expand opportunity in early and higher #education. 3/