Here is another sad example of disadvantaged kids losing out so that high-income Americans can enjoy another tax cut.
The Center for Budget and Policy Priorities (CBPP) released a report this past Friday that looks at some last-minute business Congress took care of before heading home to campaign. According to the report, $5.3 billion that the Senate wanted spent on domestic programs was diverted to Defense. According to the CPBB:
“As a result of action Congress took before adjourning for the elections, widespread cuts in domestic appropriated programs are likely to be made during Congress’ lame-duck session (or early next year, if Congress fails to complete action on appropriations for fiscal year 2007 in November or December). Congress shifted $5.3 billion that Senate appropriators had planned to devote to domestic programs to the defense and homeland security appropriations bills enacted in late September….
At the President’s insistence, earlier this year Republican leaders in Congress passed a requirement that overall appropriations for 2007 not exceed the President’s request. To meet this requirement, the $5.3 billion just added to the defense and homeland security bills will have to be cut from the other appropriations bills, which largely fund domestic programs. “
If our Republican-led Congress makes up for this shift to Defense Appropriations by across-the-board cuts in domestic programs, which have already been slated for some $12 billion in cuts, results would likely, among other things:
This is being done at the same time we Americans will be getting additional well-deserved tax cuts. The amount we’ll get back, of course, depends on what we make. Again, according to the CBPP:
“For the third straight year, reductions in domestic appropriated programs are likely to be instituted alongside further tax cuts heavily skewed to the nation’s most affluent individuals. The Urban Institute-Brookings Institution Tax Policy Center estimates that the provisions of the principal 2006 tax cut bill, which was enacted in May and is estimated to cost $70 billion over five years, will be worth an average of $20 to households in the middle of the income spectrum but $43,000 to households whose incomes exceed $1 million a year.”
Man, I can’t wait to get my 20 bucks! We can go shopping!
Seriously folks, WE NEED A NEW CONGRESS!!