Wednesday, February 12, 2020

Talking Points on the President's 2021 Budget - from the Center on Budget and Policy Priorities

Talking points on President Trump’s 2021 Budget
The President’s budget is the most complete articulation of his vision for the country — it would push millions of less fortunate Americans into or deeper into poverty, widen inequality and racial disparities, and increase the ranks of the uninsured.

We should take this budget seriously. It’s a roadmap to the types of actions that the Trump Administration will take this year and the more radical changes they would pursue if the President is re-elected and a future Congress were open to such policies.

1.     The Trump health plan would likely cause millions of people to lose coverage, while also ending protections for millions of people with pre-existing health conditions. This would make it harder for people to see a doctor when they’re sick or pay for medication they need to stay healthy.
o   The centerpiece of the budget is deep cuts to health coverage programs: $1 trillion in cuts to Medicaid and Affordable Care Act (ACA) premium tax credits over 10 years, with cuts growing deeper over time.

2.     The budget harshly cuts programs that help low-income families put food on the table, pay rent, and meet other basic needs.
o   The budget targets benefits and services for households of modest means for deep cuts, even as the President has supported tax cuts that deliver large benefits to the wealthy.

3.     The budget also reneges on the President’s budget deal with Congress by proposing cuts in key domestic programs, such as funding for education, scientific research, national parks and forests, housing assistance, and environmental protection. 
o   The budget violates last year’s bipartisan budget agreement between Congress and the President by proposing cuts to domestic programs funded through annual appropriations in 2021 and even deeper cuts in later years.

4.     The promise of America should be for everyone — not just the wealthy few. Yet the budget’s combination of tax cuts and program changes would widen income inequality and racial disparities.
o   The Trump budget calls for permanently extending the 2017 tax law’s large tax cuts for the wealthy, even as it proposes cuts in health care and basic assistance for those of limited means. This means the budget would concentrate more wealth and income at the top and further entrench barriers to economic opportunity that contribute to inequality, including across racial and ethnic lines.