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.
