The House Budget Committee has announced a Wednesday hearing called the “Fiscal State of the Union.”
We’ll be watching to see if House Republicans will finally come clean with the American people about their tax welfare for the rich and which cuts they’d impose on the middle class, including in red states.
Ironically, this “Fiscal State of the Union” comes after House Republicans have released proposals with gigantic tax giveaways to the super wealthy and big corporations that would add over $3 trillion to the deficit.
Also ironically, the hearing is being held in opposition to President Biden’s “Invest in America” budget, which would cut the deficit by nearly $3 trillion over ten years thanks to cutting wasteful spending on rich special interests and having them finally pay their fair share.
President Biden’s budget would continue two trends he’s leading: bringing jobs back from overseas and making health care more affordable for families across the country.
Before the actual “State of the Union,” President Biden pledged he would release his budget to the American people and called on Republicans to display the same transparency.
He honored his promise, but House Republicans have repeatedly delayed their budget while sending contradictory messages about whether they will even release one at all.
An exception is the House Freedom Caucus, which released a budget vision that does not reduce the deficit and, by repealing the Inflation Reduction Act’s climate investments, would be a windfall for China and kill tens of thousands of manufacturing jobs President Biden is creating in red states.
In the meantime, the House Republican Conference claims they will break with their long history of attempting to cut Medicare and Social Security benefits (which we’ll believe when we see).
But as David Leonhardt becomes the latest to point out this morning, following those restraints would mean they need to make devastating cuts to the Affordable Care Act and to Medicaid, which would especially target Americans in red states.
So on Wednesday we’ll be watching – without holding our breath – to see if House Republicans finally let their budget plan out of the shadows, and if that plan is in line with their proposals so far of exploding the deficit with tax welfare for the rich, killing manufacturing jobs in red states, and costing millions of their constituents their health care.
Andrew Bates is the White House Deputy Press Secretary and Senior Communications Adviser.
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