It's back. No matter how many times working people reject the Bowles-Simpson "B-S" budget plan that cynically claims it would "promote economic growth "—but would actually snuff out the recovery and cut lifelines for working families—it keeps coming back to the table.
Erskine Bowles and Alan Simpson released another tired plan today that would cut Social Security COLAs to pay for lower tax rates for corporations and the wealthiest Americans, among other things.
AFL-CIO President Richard Trumka released the following statement:
Once again, Bowles and Simpson have produced a plan that tells working people to “drop dead.” In December 2010, Bowles and Simpson put forward a budget blueprint that proposed to cut tax rates for corporations and the richest Americans and eliminate taxes on overseas corporate profits, and then pay for these lower tax rates by cutting Social Security benefits, shifting Medicare costs to individuals, taxing health benefits and cutting federal employees’ pay, benefits and jobs. The updated budget blueprint Bowles and Simpson put forward today cuts tax rates for the richest Americans and corporations and pays for these lower tax rates by cutting Social Security COLAs, taxing health benefits and cutting federal employees’ health and retirement benefits. For working people and the future of our nation, it is dead on arrival.
In recent actions and a call-in day to Congress, working families have urged their representatives and senators to:
- Protect Social Security, Medicare and Medicaid from benefit cuts.
- Repeal the “sequester” and close loopholes for Wall Street and the wealthiest 2% of Americans instead.
Learn more at www.aflcio.org/protectourfuture.