“This budget is an opportunity for bipartisan action that will lower costs, support working families, and strengthen our economy”
Thursday, April 11, 2024
MADISON, Wis. – In case you missed it, a new op-ed in Up North News details President Biden’s recent budget proposal and the opportunity Congress has to lower costs and support working families.
President Biden’s budget proposal lowers taxes for working families, forces billionaires and large corporations to pay their fair share, lowers prescription drug costs, strengthens Social Security, and more. Wisconsin Congressmen Bryan Steil and Derrick Van Orden, have not taken a position on the proposal.
“President Biden’s plan supports Wisconsin’s working families, lowers costs, and strengthens Social Security and Medicare,” said Opportunity Wisconsin Program Director Meghan Roh. “It’s time for Congress to work with President Biden to make these proposals a reality. Wisconsin families and communities are counting on them to break the gridlock and find support for these common sense proposals that make our economy stronger.”
Up North News – Opinion: President Biden’s budget is a blueprint for how we can help working families succeed
In his State of the Union address and budget proposal for the next fiscal year, President Joe Biden delivered a blueprint for helping working families, seniors, and small businesses in Wisconsin succeed. By continuing to lower costs, asking big corporations to pay their fair share, delivering tax relief for the middle class, and protecting important programs like Social Security and Medicare, his plan addresses some of our most critical challenges. Now, it’s time for Republicans in Congress to work with him to make these ideas a reality.
First, the President prioritizes tax fairness in his budget and delivers a common sense plan to hold big corporations and billionaires accountable while cutting taxes for lower and middle income families across the country. For too long, tax policies have let the biggest corporations and wealthiest Americans pay lower rates than others.
[. . .]
His budget increases the minimum tax rate for billion-dollar corporations, closes costly loopholes in the tax code, and forces billionaires to pay their fair share. Meanwhile, millions of children will be lifted out of poverty and working people will see lower taxes thanks to an expansion of the child tax credit and the earned income tax credit.
[. . .]
One way the President’s budget accomplishes this is by doubling down on successful programs, like the Inflation Reduction Act. Already, this law is lowering prescription drug costs for Wisconsin seniors on Medicare. His budget would extend key provisions of the Inflation Reduction Act to those with private insurance. That means expanding the $35 cap on insulin and inhaler costs and annual $2,000 out-of-pocket prescription drug cost cap – helping even more Wisconsinites afford the life-saving and life-sustaining medication they need.
[. . .]
And while Republicans in Congress continue to threaten the future of Social Security and Medicare, the President’s budget takes serious steps to extend the solvency of these programs. With additional taxes on the wealthiest Americans, these programs – as well as access to them – can be preserved for future generations.
Now, it’s time for Republicans in Congress to work with President Biden and Democrats to make these ideas a reality. This budget is an opportunity for bipartisan action that will lower costs, support working families, and strengthen our economy. After months of failing to pass government funding for the current fiscal year, Republicans in Congress need to start doing their job and support programs that will improve the lives of so many Americans.
[. . .]
###
