Debunking the dishonest GOP balanced budget, surplus claims

Thursday, June 16, 2011

 Tonight, I was the second member of the Assembly Democratic caucus to talk about the Republican budget on the floor of the Assembly. I’ve received good feedback from my speech, so I’d like to provide my Assembly floor speech here.

Not to get too policy wonkish, but tonight when debunking the dishonest GOP budget claims, I referenced specific memos from the non-partisan Legislative Fiscal Bureau. People have asked for copies of these memos, so I’ve hyperlinked them in this blog for your reference.

During the speech, I referenced 7 different items. Here are links to the documents with a brief explanation:

1) Republicans have created so many corporate tax breaks in this budget that the Legislative Fiscal Bureau pegs the 10-year cost in reduced revenue to the state at $2.3 billion. (See page 2)

2) Republicans use credit card spending to push $338 million dollars in state debt off into the future, costing us an additional $89.9 million in interest. (See page 2)

3) The GOP budget includes, at a minimum, $411 million in fund raids. (See page 1)

4) In the 2015-2017 biennium, Republicans cost the state $501.7 million in lost revenue because of their giveaways to corporations and the rich. (See page 2)

5) After claiming they don’t raise taxes in this budget, Republicans actually increase fees by $111 million. (See page 1)

6) After giving tax breaks to the rich and corporations, Republicans take away programs that help the middle class with their changes to the Homestead Tax Credit and the Earned Income Tax Credit. (See page 3)

7) After all their talk during previous budgets about freezing property taxes, the Republican budget will result in $438.8 million in property tax increases. (See page 3)