Workers label federal budget deal “missed opportunity” and call for new revenues from closing corporate loopholes5 Comments
As details continued to emerge throughout the day about a possible short-term Federal budget deal for 2014 and 2015, it became increasingly clear that the deal represents a missed opportunity for a long-term resolution to our nations’ budget challenges and a bad deal for America’s workers. Although completing any deal is a step in the right direction after two years of partisan gridlock and the recent government shutdown, this deal just doesn’t go far enough—it fails to replace a majority of the sequestration spending cuts and does not include any new tax revenue. As a result, this mini deal represents a big missed opportunity.
This was the message sent by a crowd of workers, families, and advocates that gathered in Greensboro this morning for an event calling on their federal elected representatives to finish the job and replace sequestration in its entirety with new revenues raised by closing corporate tax loopholes. Across-the-board sequestration spending cuts are harming North Carolina, advocates said, and without new revenue, North Carolinians will continue to be hit hard by spending cuts to core initiatives like education, job training, and healthcare.
“This emerging deal represents a missed opportunity. Congress has one last opportunity to prevent damaging cuts to investments that help struggling families and a struggling economy,” said Allan Freyer, Policy Analyst with the Budget & Tax Center, a project of the NC Justice Center. “We are calling on North Carolina’s federal lawmakers to do the right thing and support closing corporate tax loopholes so that we can make the investments needed to support North Carolina families and end gridlock on the federal budget.”