WASHINGTON – Today, U.S. Senator Tom Udall announced his opposition to the Republicans Fiscal Year 2018 budget proposal, which would increase the deficit by $1.5 trillion and slash Medicare and Medicaid by $1.5 trillion, all to give corporations and the ultra-wealthy 1 percent of Americans a massive tax cut.
Udall said cutting Medicare and Medicaid, the essential health care programs for seniors and low-income families, would affect access to health care for the almost 400,000 New Mexicans who rely on Medicare and roughly 900,000 enrolled in Medicaid. In addition, the Republican budget would force cuts to college loans for low-income students, heating assistance for seniors, food assistance, medical research, and other essential federal funding that benefits hundreds of thousands of New Mexicans. The resolution would also pave the way for tax legislation to eliminate important tax breaks for the middle class – for example, it would eliminate the state and local tax deduction, which promotes homeownership and provides a tax deduction of over $7,000 on average for almost a quarter of New Mexicans.
The Senate is expected to continue debating the budget resolution through at least Thursday evening. Udall will support a variety of Democratic-led efforts to reverse the Republicans’ backward priorities, including amendments to prevent tax cuts for the wealthiest 1 percent, protect Medicare and Medicaid by striking cuts to the two programs, and require pay-as-you-go budget rules to prevent blowing a $1.5 trillion hole in the federal deficit. He also will support provisions to prevent tax increases on the middle class, support universal child care, invest in rural broadband and clean energy, and save the Arctic National Wildlife Refuge from development, among others.
“President Trump and Republicans are making lofty claims about how their tax cuts will cause all boats to rise, but their math just doesn’t add up. The plain and simple truth is that President Trump and the Republicans are proposing to take money from working families, seniors, children, the sick and disabled, rural families, and the poor – to pay for tax cuts for the top 1 percent. Meanwhile, they would rack up a massive increase in the federal deficit, which would raise interest rates, stifle innovation and kill jobs over the long-term.
“I support simplifying our tax system, and I’m more than willing to work across the aisle on a responsible, balanced approach that will cut taxes for middle class families. We need to make the forward-thinking changes that Americans want to support innovation and help us invest in our roads, bridges, rural broadband and other critical infrastructure. But this deceptive bill is dangerously shortsighted and boils down to a massive gift to millionaires and billionaires – including President Trump’s own family, his business, and members of his cabinet. It’s a terrible deal for New Mexicans, and I strongly oppose it.”
