Policymakers could stabilize the debt (so it stops rising as a percent of the economy) over the latter part of the decade with about $900 billion in further deficit savings, according to calculations by the Center on Budget and Policy Priorities.
Congress should enact a deficit reduction plan that includes significant new revenue so that Pennsylvania cities, their residents and local economies can thrive again, mayors from across the commonwealth said in a conference call today.
As the federal debate over the “fiscal cliff” heats up, our elected leaders in Washington will soon face dramatic choices about how to reduce the deficit. Tell Congress that any federal deficit reduction plan must include significant revenue to protect investments that are essential to building a pathway to the middle class for low-income working families.
PBPC presents a table detailing how education and human services in Pennsylvania would be impacted by major across-the-board federal budget cuts scheduled to take effect next year with sequestration, unless Congress passes an alternative plan.
If Congressional budget proposals do not include significant new revenue efforts to reduce federal deficits, the burden would fall squarely on states. This approach will damage Pennsylvania’s economic recovery and future economic growth through drastic cuts to federal investments in schools, roads and bridges, safe communities, and disaster relief.
As the deadline for filing state and federal tax returns approaches, we have put together the following resources to help you understand what your tax dollars support. We also highlight reports and educational materials on closing tax loopholes and improving overall tax fairness.
Some 157,000 at-risk children up to age 5 could lose education, health, nutrition, and other services under Head Start, while funds for Pell Grants that help students go to college would fall by nearly 25 percent, under a bill passed by the U.S. House.