FRIENDSHIP HEIGHTS, MD – Yesterday, President Trump delivered a 2020 budget to Congress which, in addition to proposing major spending cuts to social safety net programs, will continue to balloon the deficit and accelerate the growth of U.S. debt.
John Delaney releases the following statement:
“Trump’s budget would be laughable if it weren’t so fiscally irresponsible and dishonorable. The $4.7 trillion price tag includes billions of dollars to subsidize a campaign slogan (after Mexico refused to pay for the wall). What do the American people get? Hundreds of billions of dollars in cuts to vital programs such as Social Security, Medicare, Medicaid, food stamps, and housing support. President Trump promised voters over and over that he would preserve Medicare and Medicaid, but we are finding – yet again – that he doesn’t keep his word. We need a president who will tell people the truth, make smart investments, bring our fiscal house in order, and prepare for the future.”
Last year, Delaney was named a Fiscal Hero by The Campaign to Fix the Debt. In his book, The Right Answer: How We Can Unify Our Divided Nation, Delaney lays out a plan for fiscal sustainability. He argues for raising revenues by raising the corporate tax rate from 21% to 25%, enacting comprehensive immigration reform, establishing new minimum taxes on high earners and a surtax on incomes of over $500,000 a year so that the most fortunate pay more, and closing loopholes like carried interest. Delaney also calls for allowing the government to negotiate drug prices and implementing a smart universal healthcare plan, substantially lowering health care costs.