FOR IMMEDIATE RELEASE: October 13, 1995
CONTACT: Dana Hagerty 202/225-2165
WASHINGTON, DC -- "This is a budget reconciliation package that treats every American fairly, balances the budget, and protects those most in need," said Congressman Collin C. Peterson (DFL-7th District), co-chair of The Coalition. "I believe that when Congress and the President finally reach a budget agreement, it will look like what we are proposing today."
The Coalition released the details of its budget reconciliation package to balance the federal budget over seven years today during a Washington, DC news conference.
"The Coalition's goal has always been to moderate the extremes in both parties, and put responsible public policy ahead of politics," Peterson said. "We've met that goal with this sound, credible, and reasonable alternative.
"We have sent a letter to Speaker Gingrich asking that he allow a vote on this plan," Peterson said. The House is expected to consider its reconciliation legislation next week. "Last spring, The Coalition's budget resolution, which mirrors this package, won more votes than any of the three alternatives to the GOP leadership's plan. We believe our budget reconciliation package could have even more support."
Following are a few of the package's highlights:
The Coalition's plan accrues $150 billion in less debt over the next seven years than the Republican budget package.
The Coalition's plan fixes Medicare and does it by cutting $105 billion less than the Republican budget package. The Group's plan cuts $80 billion less from Medicaid funding than the Republican budget package.
The Coalition's reconciliation package incorporates the welfare reform package it endorsed last spring that saves more than $62 billion over seven years. The welfare provisions set shorter time limits and move more people to work than the Republican welfare plan in part through realistic funding of such items as child care. It demands personal responsibility.
The Coalition's plan maintains U.S. competitiveness in agriculture by cutting nearly $10 billion less from agriculture programs over the seven-year period and does not entirely abandon America's farmers by abolishing all subsidy programs.
The Coalition's plan does not threaten the availability of student loans because it believes such a move would be counterproductive to the future of the country.