Because Democrats’ $1.9 trillion wishlist bill was so large and unfocused, it exceeded the rules under PAYGO and the CBO indicated that the bloated nature of the legislation would trigger a cut of up to $36 billion in Medicare funding beginning in 2022.
- The Washington Times: “Democrats’ $1.9 trillion relief bill would trigger $36 billion in Medicare cuts in 2022, says CBO”
To prevent the consequences of their bad legislation and policymaking from coming to a head, Democrats will vote today on a bill that would prevent these cuts from going into effect. For more on this bill, see the below document from Republicans on the House Budget Committee, which also includes information on an alternative piece of legislation that would actually protect seniors and prevent Medicare cuts by removing waste in the Democrats’ bailout bill:
Republicans’ alternative is far better than Democrats’ proposal since it takes into account concerns with the rising deficit and actually calls for off-setting spending cuts, eliminating some of the waste that was a part of Speaker Pelosi’s $1.9T wishlist.
The fact also remains that if Democrats pass this bill, they will have even more incentive to raise taxes on hardworking Americans which they laid the groundwork for doing this week. Already, the Biden Administration is shifting their position, going from promising that no one who earns under $400,000/year will see a tax increase to saying yesterday that individuals who earn $200,000/year could see their taxes increased:
- Fox Business: “Biden’s proposed tax hike could hit Americans earning $200,000”
Today’s vote proves how dangerous and devastating Democrats’ $1.9T wishlist is for our country. Republicans will continue to explain why the wasteful spending, coming tax increases, and unfocused measures that all define this legislation will lead to negative consequences for the nation.