FY2016 Budget Resolution

Mar. 27, 2015 | S.Con.Res. 11

This Senate budget resolution for fiscal year 2016 would accelerate the transfer of wealth from working-class families to large corporations and the wealthy, while slashing programs that serve moderate- and low-income families. Rather than investing in the middle class, the Senate budget would cut more than $5 trillion in programs that support working families in education, workforce training, public health, research, infrastructure and other critical investments. It also raises retirement contributions by $127 billion over 10 years for federal employees--a six percent pay cut for current employees. Finally, this budget offered by Republicans raises no new revenue for deficit reduction or needed investments. Instead of closing the corporate tax loopholes that encourage companies to ship jobs overseas, this budget lowers corporate tax rates and taxes paid by the wealthiest Americans. The resolution was agreed to in the Senate and House.