Pocan Statement on Passage of Republican Budget
WASHINGTON, D.C.—U.S. Rep. Mark Pocan (WI-02) today issued the following statement on House passage of the Republican budget proposal:
“For the 4th year in a row House Republicans have laid out a road map for what they would do if they controlled the House, Senate, and the White House,” said Representative Pocan. “The consequences of the Republican budget would be very real to the 3 million Americans who could lose their jobs, the millions of seniors who would see Medicare turned into a voucher program, and the millions of students who would see higher student loan rates and interest payments. Luckily for 98% of Americans who would be hurt by the Republican budget, it is not going anywhere.”
According to the Economic Policy Institute, the GOP-Ryan budget would have a devastating impact on American workers and the larger economy. EPI estimates that the Republican budget plan would decrease GDP by 0.9 percent and decrease nonfarm payrolls by 1.1 million jobs in fiscal year 2015, compared to CBO’s current-law baseline. In 2016, when the Republican budget cuts to discretionary spending starts, GDP would decrease by 2.5 percent and cost 3.0 million jobs – the equivalent of firing Wisconsin’s entire workforce.