Entitled “Fiscal Sanity,” this budget proves that their definition of “sanity” is insane.

The Republican Study Committee has come out with its budget proposal for fiscal year 2025. The budget proposal boasts it will balance the budget within 7 years. While impressive looking at 180 pages, which you can read if you want to, we thought we’d take the time to quickly summarize the main points.

No more pay raises for government workers.

GovExec.com states the following:

“The document argues that federal employees are overpaid compared to private sector workers to the tune of 17% when accounting for non-salary benefits. According to Bureau of Labor Statistics data, federal workers make 27.54% less on average than their private sector counterparts before considering non-salary benefits.

The plan would do away with the annual process by which the president proposes and implements annual across-the-board raises to federal workers in favor of only providing “merit-based” increases, a move the conservatives say would save $57 billion over the next decade. And it calls for the government to reduce the paid leave available to federal employees “to match the value of benefits” provided in the private sector. That vague provision would reduce federal spending by $75 billion over the next decade, the lawmakers said.”

The Budget would cut the Federal Employee’s Health Benefits Program.

Gut Federal Employee Unions

Of course, gut federal workers’ unions: “The conservatives’ budget endorses legislation aimed at reducing the federal firing process to 30 days and stripping federal workers of some of their adverse action appeal rights. And in a signal of their continued opposition to labor unions, it would ban the use of official time at federal agencies, rescind President Biden’s federal workforce executive orders and end federal workers’ ability to pay their union dues via payroll deduction.”

Gut Inflation Reduction Act sending jobs back overseas

The White House notes: “House Republicans’ plan would raise energy costs and send our new manufacturing jobs back overseas by gutting other crucial elements of the Inflation Reduction Act, raise housing costs, and allow big companies to rip off consumers with junk fees.

–Cuts Medicare and Social Security while putting health care at risk for millions

–Calls for over $1.5 trillion in cuts to Social Security, including an increase in the retirement age to 69 and cutting disability benefits.
–Raises Medicare costs for seniors by taking away Medicare’s authority to negotiate prescription drug costs, repealing $35 insulin, and the $2,000 out-of-pocket cap in the Inflation Reduction Act
–Transitions Medicare to a premium support system that CBO has found would raise premiums for many seniors.
–Cuts Medicaid, the Affordable Care Act, and the Children’s Health Insurance Program by $4.5 trillion over ten years, taking coverage away from millions of people, eroding care for seniors, children, and people with disabilities, and taking us back to the days where people could be denied care for pre-existing conditions and charged more for health insurance simply for being a woman.
–Rigs the economy for the wealthy and large corporations against middle class families

–Passes $5.5 trillion in tax cuts skewed to the wealthy and large corporations, including permanently extending tax cuts in the Trump tax law, repealing the minimum tax on billion-dollar corporations the President signed into law, eliminating the estate tax for the wealthiest Americans, providing a massive tax cut for billionaire investors, and making it easier for the wealthy and large corporations to get away with cheating on their taxes.
–Kills jobs and investment in communities throughout the country – including Red States – by eliminating the clean energy tax credits in the Inflation Reduction Act.
–Makes it easier for companies and banks to rip consumers off with unfair and hidden junk fees by eliminating the Consumer Financial Protection Bureau.
–Raises housing costs by cutting funding for rental assistance, cutting funding for programs that help build housing, and raising mortgage costs for first-time homebuyers.