Today, we made a thank you card to Senate Budget Committee Chairwoman Patty Murray for crafting a budget that raises nearly $1 trillion in new revenue. The bill also calls for the progressiveness of the budget to remain, and will raise this revenue through the closing of tax loopholes. The Center on Budget and Policy Priorities explains the differences between the Ryan and Murray plans:
The Murray budget also clearly states that tax expenditure reform should ensure that the tax code remains at least as progressive as it is today. It would allow cuts in tax rates, but only if they wouldn’t interfere with the budget’s revenue-raising and progressivity goals. Because the Ryan budget has to raise so much more from tax expenditure reform to pay for big tax-rate cuts that would disproportionately benefit high-income households, it would necessarily have to cut tax expenditures that benefit the middle class and the working poor — not just those for upper-income households — and almost certainly would make the tax code less progressive and shift tax burdens down the income scale.
The Murray Budget has it right- corporations and the richest 2% should be paying more, not regular working Americans. Let’s thank Patty Murray for this game-changer.
Sign our thank you note to Patty Murray here, and then share it with your friends!