2012 U.S. Poverty Campaigns Overview of Broader Budget Issues
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2012 U.S. Poverty Campaigns Overview of Broader Budget Issues
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2012 U.S. Poverty Campaigns Overview of Broader Budget Issues. Budget Issues Timeline. Medicaid: Cut by $810 billion over ten years; converted to a lump sum “block grant” to states 14-27 million would lose coverage SNAP: Cut by $134 billion over ten years; converted to block grant - PowerPoint PPT Presentation
Transcript of 2012 U.S. Poverty Campaigns Overview of Broader Budget Issues
2012 U.S. Poverty CampaignsOverview of
Broader Budget Issues
Budget Issues Timeline
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House Republican Budget
Medicaid: Cut by $810 billion over ten years; converted to a lump sum “block grant” to states 14-27 million would lose coverage
SNAP: Cut by $134 billion over ten years; converted to block grant 8-10 million would lose benefits
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Non-Defense Discretionary Programs (NDD): Funding cut by nearly $300 billion over ten years
ACA: Repeals health reform, denying 32 million health coverage
Taxes: Millionaires would get an additional $265,000 tax cut, while middle income families would see their taxes increase
Attacking SNAP (Food Stamps)
SNAP serves over 46 million per month, half of them children
Average benefit is $1.50 per meal per person
76 percent of SNAP households include a child, an elderly person, or a disabled person
In 2010, SNAP lifted 4 million people out of poverty
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Attacking SNAP (Food Stamps) Senate Farm Bill
Cuts SNAP by $4.5 billion over ten years 500,000 people will see their SNAP benefits drop an average of $90 per month Gillibrand (D-NY) amendment to restore SNAP cuts was defeated Passed full Senate 64-35
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House Farm Bill Cuts $16.5 billion from
SNAP over ten years (includes Senate cuts)
2-3 million people will lose SNAP benefits
280,000 children will lose access to school meals
House Ag Cmte passed it 31-15
Future of either bill unsure
The Bush Tax Cuts In December 2012, all of the Bush tax cuts from 2001 and 2003 will expire
38 percent of benefits went to the top 1 percent Tax cuts have cost nearly $2 trillion in revenue
Senate to vote on President Obama’s plan to extend tax cuts for income up to $250,000 (including EITC and CTC) as soon as this week
House to vote on plan to extend all the Bush tax cuts; excludes extending the EITC and CTC provisions we support
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SequestrationAutomatic across the board cuts beginning in January 2013 (mandated
under BCA if Super Committee failed)Approximately 9 percent from both defense and non-defense programs
(about $55 billion each in 2013)Some programs like Medicaid, SNAP, EITC, CTC, Social Security, and child
nutrition are exempt from sequestrationMembers of Congress feeling a lot of pressure to undo the defense cuts
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The “Fiscal Cliff”
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End of Bush tax cuts + sequestration = recession
More a slope than cliff — full effects will not be felt for months
Plenty of time for Congress to act
Some of Bush tax cuts will be extended
The fiscal cliff talk is more of a scare tactic to push Congress into enacting bad policy before January
RESULTS belongs to the SAVE for All Coalition Deficit reduction must protect low and moderate income
Americans and not increasing poverty Oppose cuts to SNAP, Medicaid, EITC/CTC, and other
programs that help lift and keep people out of poverty Oppose block granting Medicaid and SNAP
Deficit reduction must include new revenue New revenue must comprise at least half of deficit reduction Allow the Bush tax cuts for the top 2 percent to expire Closing tax loopholes
Deficit reduction must create jobs Investments in infrastructure, rebuilding schools, etc
Deficit reduction must eliminate wasteful military spending
RESULTS on Deficit Reduction
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RESULTS/RESULTS Educational Fund 1730 Rhode Island Ave NW, Ste 400
Washington DC 20036www.results.org
RESULTS Economic Opportunity Campaign Contacts:
Meredith Dodson, [email protected], (202) 782-7100, x116Jos Linn, [email protected], (515) 288-3622
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