Budget Blog

Since 1975, the Earned Income Tax Credit (EITC) has helped millions of households lift themselves out of poverty. Now, it's time to modernize our tax code to better reflect today's workforce with The 21st Century Worker Tax Cut Act. Click on the image for a more detailed look. 

The 21st Century Worker Tax Cut Act

See the PDF of this infographic here.
Yesterday, Senator Murray met with port directors from across the country to discuss the nation’s critical and growing infrastructure deficit. This deficit affects the United States’ highways, transit systems, rail, ports, and more. It is hurting businesses, hurting commuters, hampering economic growth—and if investments aren’t made to tackling this problem now, it is only going to get worse.

Senator Murray also outlined some of the ways she would like to build on the two year budget to continue working to tackle the serious deficits the country is facing, from research and development to education, jobs, and infrastructure.
Chairman Patty Murray wrote an op-ed in The Hill to announce the 21st Century Worker Tax Cut Act, which would update the tax code to help today's workers and families keep more of what they earn. The bill would build on work incentives both Republicans and Democrats agree have been effective, and it is paid for by closing wasteful loopholes both parties have proposed eliminating.
Today, Chairman Murray had planned to speak at the National Anti-Hunger Policy Conference to emphasize the importance of combating hunger in our country. Unfortunately, a snow storm in the area prevented her from attending.

Excerpts from her speech, as prepared for delivery, can be found after the jump.
Working hard in a full time job shouldn’t leave a family in poverty. But right now, a minimum wage worker, who puts in 40 hours a week, with no time off, earns $15,080 a year. That’s $3,204 less than the poverty threshold for a family of three. In 2012, for a family of four, the poverty threshold was $23,492 a year, that’s more than $8,412 less than a minimum wage worker earns in a year.

The current minimum wage makes it nearly impossible for working parents to make ends meet.

As Congress approaches the deadline to raise the debt ceiling, Republicans are once again threatening to manufacture a debt limit crisis in order to win policy concessions. Chairman Murray and Democrats have made clear that they will not negotiate over whether or not the United States pay its bills on time, and have called on Republicans to drop their demands and agree to join Democrats in preventing default.

At Tuesday's Senate Budget Committee hearing, Dr. Mark Zandi, chief economist for Moody's Analytics, said defaulting on the nation's debt would be "catastrophic."

Watch the full clip here:

At the hearing, Chairman Murray repeated her call for Republicans to "give up their demands and raise the debt ceiling without any strings attached, and then work with Democrats on the real challenges we face."  

Read more here.

Jan 16 2014

A New Budget for National Priorities

Appropriations legislation clears the Senate 72-26

Today, the Senate approved appropriations legislation that eases the across-the-board spending cuts that have been detrimental to priorities like education, research, and infrastructure investments. This bill, which passed the Senate 72- 26, fills in the details of the bipartisan budget deal that Senate Budget Chairman Patty Murray and House Budget Chairman Paul Ryan reached in December. See more below:

A New Budget to Invest in National Priorities