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John,
President Joseph Biden released his 2024 budget proposal with a clear focus on creating a more equitable economic system by increasing taxes on the ultra-wealthy and increasing investments in vulnerable communities, families, and children.
The Biden budget takes important steps towards shared prosperity and sustained economic security. It would sustain Medicare for another quarter-century by increased contributions from those with incomes over $400,000.
It would restore the stunning poverty-fighting effectiveness of the expanded Child Tax Credit and Earned Income Tax Credit. It proposes to protect and expand Medicaid (ensuring that poor people can have access to health coverage everywhere in the nation). It urges Congress to protect the Supplemental Nutrition Assistance Program (SNAP) and other nutrition programs in the farm bill, to fight back against hunger. It takes modest but meaningful steps to make housing affordable and to reduce the national tragedy of people with no home.
President Biden’s budget offers a clear contrast to right-wing extremists in Congress who are attempting to cut critical programs for working and low-income people. And, it would still reduce the deficit, without slashing services we need, by having the wealthy and corporations pay more of their fair share.
Donate $5 today to fight for the Biden budget and the critical investments our communities need.
The Biden budget reduces the federal deficits by $3 trillion over a decade. It achieves this through the basic fairness of requiring the richest among us to pay taxes, through its 25% Billionaire Minimum Income Tax, increased stock buyback tax, taxing investment income at the same rate as income from work, and raising the corporate tax rate to 28%, up from 21%. It saves taxpayers billions of dollars by expanding Medicare’s ability to negotiate drug prices, and by collecting the revenues that wealthy tax evaders owe.
Americans have long been outraged that some of the most profitable corporations as well as some billionaires have paid no taxes at all, or a far lower percentage than the rest of us. This budget addresses that outrage.
As Congress works on its own spending plans, the Coalition on Human Needs is fighting to advance the priorities of shared prosperity: reducing the number of people who cannot meet their basic needs of housing, food, health care, fair work and adequate income, increasing opportunities in communities across the U.S., and protecting against disinvestment and inequities by race, ethnicity, gender, age, disability, and immigrant status. We can afford these priorities by making savings, such as eliminating excessive payments to Pentagon contractors and drug companies. And, as the Biden budget demonstrates, we can afford to invest in our future by increasing taxes on the rich and corporations, who have evaded their fair share for far too long.
Donate today to fight for the Biden budget, which invests in our communities -- paid for by making the rich and corporations pay their fair share.
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Thank you for all you do to support vulnerable families and children,
Deborah Weinstein
Executive Director, Coalition on Human Needs
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