Children: Whats at Stake. November 14, 2012 1 11/14/2012 - - PDF document
11/14/2012 The Fiscal Showdown and Children: Whats at Stake. November 14, 2012 The Fiscal Showdown and Children: Whats at Stake. November 14, 2012 1 11/14/2012 Co-sponsored by and Joe Theis isse sen Senior Vice President,
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November 14, 2012
November 14, 2012
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Co-sponsored by
and
Senior Vice President, Programs Voices for America’s Children Moderator
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Executive Director Center for Law and Social Policy (CLASP) Chair, Children’s Leadership Council
Senior Vice President For Government Affairs Center on Budget and Policy Priorities
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Executive Director Coalition on Human Needs
The Key Po
Policy y Choices for Pro rote tecting ng the Po Poor CHN,CLC, Voices for America’s Children Ellen n Nissenbaum aum www.cb .cbpp.or pp.org nissenbau nbaum@ m@cbp bpp.org p.org Nove
mber r 14, 2012
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Center on Budget and Policy Priorities cbpp.org 9
Long-Term Debt is Unsustainable
Center on Budget and Policy Priorities cbpp.org 10
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Center on Budget and Policy Priorities cbpp.org
Number of U.S. Households Living Below World Bank Measure of Serious Poverty in Developing Nations:
Living on Less Than $2 a Day, Per Person
Cash Income Cash Income plus Food Stamps 1996 636,000 households with 1.4 million children 475,000 households Start of 2011 1.46 million households with 2.8 million children 800,000 households
Source: Shaefer and Edin, “Extreme Poverty in the United States,” 1996 to 2011.
11 Center on Budget and Policy Priorities cbpp.org
Tax cuts & UI expire in December Sequestration hits in January Debt limit is hit in early 2013 Current FY13 CR runs through March 27
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Center on Budget and Policy Priorities cbpp.org
3-legged stool
Discretionary spending
Health/other entitlements Revenues
(reduce deficit? Lower rates?)
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already cut $1.5 trillion since 2011. Will the Congress make further cuts in this area, below the deep cuts enacted in the Budget Control Act? If so, will nondefense spending be protected?
reduction, or will conservatives win and force a new round of income tax rate cuts?
what does that mean for Medicaid? SNAP? Other low-income entitlements “off the table?”
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Center on Budget and Policy Priorities cbpp.org
KEY DECISIONS TO PROTECT THE POOR
per capita cap)
credits for working poor (EITC, Child Tax Credit)
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Non-Defense Discretionary Spending Cuts Far Below Historical Levels
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Center on Budget and Policy Priorities cbpp.org 17
Nearly Half of NDD Spending is Grants to States; Low-Income Programs
Center on Budget and Policy Priorities cbpp.org
There Are Both Risks and Opportunities on Taxes, Especially for Low-Income Families with Children
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be progressive?
everyone who works pay at least some federal income tax would effectively result in a several-thousand-dollar tax increase for low-income working families.
receives a $7,000 tax credit check because of the Earned Income Tax Credit and Child Tax Credit — essentially a large negative income tax. For her to
$3.50 an hour — away from her.
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Center on Budget and Policy Priorities cbpp.org
Most Who Don’t Owe Federal Income Tax Are Workers, Elderly, Disabled, or Students
Center on Budget and Policy Priorities cbpp.org
The Case for Letting the High- Income Tax Cuts Expire
Proposed Extension of Bush Tax Cuts Favors Millionaires
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Center on Budget and Policy Priorities cbpp.org
Raising Threshold for Extending Bush Tax Cuts Would Cost $366 Billion Over First Decade
*Excludes additional savings from reduced interest on the debt. **Savings exclude any reductions in estate tax cuts. Source: Joint Committee on Taxation
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Large Deficit-Reduction Packages Have Included Large Revenue Increases
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Center on Budget and Policy Priorities cbpp.org 23
Tax Expenditures are Substantial
Center on Budget and Policy Priorities cbpp.org
REVENUES
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Center on Budget and Policy Priorities cbpp.org
Core Principles for Deficit Reduction
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Deborah Weinstein Coalition on Human Needs
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750,000 – 900,000 fewer infants, children and moms receiving WIC 80,000 fewer children with child care assistance 96,000 fewer children in Head Start 413,000 fewer adults and youth getting job training 1.8 million fewer low-income schoolchildren with reading and math help 5 million fewer families will receive prenatal care and other maternal and child health services 212,000 fewer children vaccinated against childhood diseases 27,000 fewer infants receiving special education early intervention services
U.S. House-pas passed ed budget would d cut Medicaid caid by 1/3 ($810b) ) by 2022
in July 2012, nearly half of them children. House-pas passed ed budget would d cut SNA NAP by $134 34 billion
d mean 8 million
e denied d food aid
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All children lifted
by EITC and CTC, 2011:
4.9 million ion
All people lifted
UI, 2011:
2.3 million ion
All people lifted
SNAP, 2011:
3.9 million ion (1.7m children dren)
source: U.S. Census Bureau
Strengthening America’s Values and Economy (SAVE) For All Letter signed by 1,900+ organizations nationwide
Prot
ect low-in inco come me and vulner erable able peopl ple e Promo
e job creation
to streng ngthen en the econom nomy Incre rease ase revenu nues es from m fair sources ces Seek responsi
ble savings ngs from the Pentag agon
areas as
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“balanced plan” (see Kids Not CEO’s, at www.Americansfortaxfairness.org)
fear of fiscal “cliff” to call for huge spending cuts
the economy – kids (and former kids) will pay
People spoke out throug rough the vot vote. Now
lecti tion
is
, we stil ill l need to speak k out.
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Easie siest t First: Send d an email il: SAVE VE for All emailab ilable le let etters ers to Congress ess:
Go to www.chn.org n.org/ta takeac eaction ion
Tell l your net etwor
s to send it too!
www.v .voi
es.org .org
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By Phone In person
inion
ieces es:
CHN can help: contact Angie Evans, aevans@chn.org CLC LC can help with op-eds:
contact Amy Harfeld,
coordinator@childrensleadershipcouncil.org
ld eve events: ts:
(CHN will have state fact sheets you can use)
senator’s office
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mention it and how many groups have signed
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The cost of continuing the favorable tax treatment for hedge fund managers:
The cost of avoiding sequestration-level cuts for housing vouchers and WIC:
Spend $156 million for 2 2 V-22 Osprey helic icopter ers, which cost 5 times as much as other helicopters and don’t work well. OR OR Provide low-cost child care to 22,00 ,000 childr ildren en
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Keep ep estate e tax low: w:
nationwide, who get $1.1 million more each than if at 2009 levels.
estates. OR OR
tax credits for 13m families; 25.7m children.
families; nearly 1 million children.
Source: Center on Budget and Policy Priorities
areas
resources
more info about holding meetings or press activities Just don’t be silent – too much is at stake!
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