WASHINGTON, D.C. — Rep. Donald Payne (D-Newark) signed a letter launched by the House Progressive Caucus opposing any deal that cuts Social Security, Medicare, or Medicaid benefits in order to raise the debt ceiling.
National polls show that large majorities of Americans want to preserve Social Security, Medicare, and Medicaid benefits, and want to raise taxes on the wealthy and big corporations.
In addition to Payne, 74 other Congressional Democrats have signed the letter. They could prevent President Barack Obama and Congressional Republicans from cutting a deal that would reduce Social Security, Medicare, and Medicaid benefits.
Progressives are demanding more accountability from Wall Street insiders as well as the restoration for millionaires of tax levels charged before the Bush tax cuts reduced federal revenues by $2.8 trillion between 2002 and 2011. A year ago, the Congressional Budget Office estimated that extending the Bush tax cuts would cost roughly $3.312 trillion over the net decade, for a total expense of nearly $6 trillion.
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