A breakdown of the budget proposal cuts by House Budget Chief Paul Ryan’s (R-WI). There are across the board cuts to government services, and he proposes cutting taxes by 10% for both corporations and high income earners.
- Cut top income earners’ tax rate from 35 to 25%.
- Cut corporate tax rate from 35 to 25%.
- Medicare system would be ended and replaced with a voucher program starting in 2022. This means seniors would be given a “coupon” and forced to buy insurance on the open market.
- Eliminate the health care law that was recently passed.
- The Medicaid and SNAP (food stamp) program’s money would go to the states in the form of grants instead of funds going directly to individuals.
- Cuts Pell grants to 2008 levels.
- Cuts “hundreds of government programs that have outlived their usefulness”.
- Freeze pay for federal workers for five years.
- Cut 10% of federal workers over three years.
- Extend the Bush era tax cuts.