skip to main content
skip to newscasts

Thursday, July 11, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

AZ senator: Many liberties at stake ahead of election. Race to restore power to 1.5M after Hurricane Beryl as dangerous heat wave continues; Feds fine bank $20 million for illegal car-insurance practices; Indiana law introduces big changes to home buying.

view newscast page
play newscast audioPlay

Hollywood's Democratic allies enter Biden withdrawal debate. AOC moves to impeach Justices Thomas and Alito, and GOP commissioners face backlash after they refuse to certify Nevada county recount results.

view newscast page
play newscast audioPlay

Rural communities are developing post-pandemic business strategies to lure remote workers, preservationists in Eastern Kentucky want to save the 20th century home of a trailblazing coal miner, and a new federal rule could help small meat and poultry producers.

Proposed GOP budget could harm NYers, critics say

play audio
Play

Thursday, July 11, 2024   

New Yorkers could see detrimental impacts from a proposed federal budget.

The Republican Study Committee's proposed 2025 budget calls for sweeping cuts some experts feel are not fiscally responsible. It comes as congressional Republicans are calling for trimming government spending. Part of the budget extends Trump-era tax breaks benefiting corporations and wealthy people.

Hae-Lin Choi, District 1 political director for the Communication Workers of America, said tax policy is a top issue for the union's New York members.

"The consequences that we have seen from the devastating corporate tax cuts have been really real for our members," Choi emphasized. "AT&T got a $20 billion windfall and ended up laying off 23,000 members."

The company actually got $42 billion from Trump tax cuts. New York Republican Representatives Nicholas Langworthy, Nicole Malliotakis, Elise Stefanik, Claudia Tenney, Brandon Williams and Nick LaLota are all study committee members who support the budget. Choi argued their budget does not show the lessons of the pandemic have been learned, noting more public service investments are necessary.

The proposed budget aims to cut spending by around $17 trillion and Americans' taxes by more than $4 trillion over a decade.

Porter McConnell, senior director of the Take on Wall Street Project for the group Americans for Financial Reform, noted it would come at a price. Large tax breaks mean making up the revenue in other ways. She said certain public programs will be taking a hit.

"They propose cutting $1.5 trillion in Social Security, and they propose to do that by raising the retirement age to 69 and by lowering the benefits you get when you do retire," McConnell explained. "Basically they're taking money from seniors and redistributing it to corporations and the super rich."

The study committee's proposal slashes funds for the Departments of Education and Labor. However, it calls for increases to the Department of Defense, which has a budget seven times the combined amount the U.S. spends on education and labor.

Disclosure: Americans for Financial Reform contributes to our fund for reporting on Budget Policy and Priorities, Campaign Finance Reform/Money in Politics, and Social Justice. If you would like to help support news in the public interest, click here.


get more stories like this via email
more stories
Consumers can submit complaints about financial products and services, including auto loans, to the Consumer Financial Protection Bureau website. (Freedomz/Adobe Stock)

Social Issues

play sound

Fifth Third Bank just agreed to pay a $20 million fine to settle charges it forced car buyers to purchase unnecessary insurance and created fake accou…


Health and Wellness

play sound

A lending library for medical and mobility supplies opened in Sioux Falls just last fall and now its parent nonprofit is making moves to go mobile…

Social Issues

play sound

Colorado remains the eighth-least affordable state in the nation for housing, according to a new report from the National Low Income Housing …


The 2016 U.S. Supreme Court decision in Montgomery v. Louisiana required the resentencing of 364 Michigan youths serving life without parole, citing Eighth Amendment violations. (ehrlif/Adobe Stock)

Social Issues

play sound

The Michigan Supreme Court is set to reexamine the life without parole sentences of three men who have spent two decades in prison, convicted of …

Social Issues

play sound

For years, Indiana home sellers have signed formal listing agreements with real estate brokers but now buyers also need written agreements before …

Health and Wellness

play sound

Minnesota could see temperatures reach the 90s in the coming days and as residents try to stay hydrated, one health expert said consistency is key…

Health and Wellness

play sound

The heat is already making it hard for Texans this summer with most regions reporting triple digit temperatures for multiple days. The National …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021