Schakowsky Proposes Alternate Budget Plan: Save Social Security, Tax Millionaires


The article, Schakowsky Proposes Alternate Budget Plan: Save Social Security, Tax Millionaires, shows that there are far better alternatives to balancing the budget than those proposed by the heads of the Presidential Commission.

After the National Commission on Fiscal Responsibility and Reform released a polarizing deficit reduction proposal on November 10, Rep. Jan Schakowsky (D-Illinois) did not hesitate in expressing her disapproval. “This is not a package I could support,” she said  at the time.

On Monday, Schakowsky, who also serves on the commission, released her own proposal, which contrasts significantly with the plan compiled by commission co-chairs Alan Simpson and Erskine Bowles. Most notably, Schakowsky’s plan approximates a $426.95 billion reduction, a higher figure than the $250 billion target President Obama recommended to the commission. The Bowles-Simpson proposal had a final reduction amount of $200.3 billion over the same time period.

The article The Schakowsky Deficit Reduction Plan: A Proposal that Actually Strengthens Social Security offers more detail on the plan.

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