March 06, 2024

Alliance for Retired Americans: House Budget Resolution (Again) Includes Tax Cuts for the Ultra-Wealthy and Will Lead to Cuts to Social Security and Medicare

The following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, in response to news that the U.S. House Budget Committee plans to vote on Thursday, March 7 on a Concurrent FY 2025 Budget Resolution:

“Seniors are beyond disappointed to learn that the House Budget Committee will be voting tomorrow on a budget proposal that would make trillions of dollars in cuts to older Americans’ earned benefits.

“The budget resolution is bringing back the Fiscal Commission and the GOP leadership doesn’t even know that Social Security cannot add to the debt. Incredibly, the resolution states that Social Security is a driver of the federal debt when, in fact, Social Security by law can’t borrow one thin dime.

“The House Budget Committee evidently thinks they can unilaterally decide our spending priorities. It is highly unusual for Congress to preempt the White House and vote on their own budget before waiting for the President’s budget to arrive on Capitol Hill.

“This is nothing but a political stunt that shows we have a Congress more interested in headlines than doing the work of the people. This budget resolution puts seniors on a path to cuts to their earned Social Security and Medicare benefits. Our members will continue to fight against these cruel measures.

“The House Republican budget proposal’s outrageously low funding numbers, and the inclusion of a fiscal commission to make drastic cuts to Social Security, Medicare and Medicaid behind closed doors and out of the public eye, once again demonstrates their priorities and playbook: tax cuts for the wealthy and draconian cuts for seniors and everyone else.”

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Contact: David Blank, dblank@retiredamericans.org