[Congressional Record Volume 169, Number 44 (Wednesday, March 8, 2023)]
[Senate]
[Page S678]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                               The Budget

  Mr. President, now on the budget, President Biden's budget won't be 
released until midday tomorrow, but we can already draw a couple of big 
conclusions about the contrast between his vision--the Democratic 
vision--and the Republican vision for our country.
  The President, for instance, is willing to do what Republicans are 
not: lower the deficit in a realistic, responsible way without cutting 
benefits that tens of millions of people rely on.
  In fact, Democrats have already proved it is possible: The Inflation 
Reduction Act not only saved families money, it also lowers the deficit 
by hundreds of billions of dollars.
  The Republicans like to talk about cutting the debt, but Democrats 
are the ones actually getting it done. Unlike Republicans, the 
President is also asking the richest of the rich to pay a little more 
of their fair share in taxes so that tens of millions of Americans will 
not see their Medicare benefits wither away in a few years. Under the 
President's plan, Medicare would remain solvent well beyond 2050. Isn't 
that great? Medicare, which we have always worried about, which is so 
important to tens of millions of Americans, would stay solvent until 
2050.
  Republicans, of course, want to go the other way. Instead of cutting 
taxes for the middle class, their priority is tax cuts to billionaires 
and large corporations. Now, I have no problem with those at the very 
top. God bless them. They are doing just fine. But I think most 
Americans agree that CEOs should never have a lower tax burden than 
nurses, teachers, cabdrivers, firefighters, and police officers. If my 
friends on the other side want to call that outlandish or extreme, they 
can go right ahead, but I warn them they will be at odds with the vast 
majority of Americans.
  Finally, the President's plan will build on what Democrats 
accomplished last year to lower the cost of prescription drugs.
  For the first time ever, Medicare now has the authority to negotiate 
the price of certain drugs, saving taxpayers billions of dollars, but 
the President is right to push further in expanding the list of drugs 
whose prices Medicare can negotiate.
  So let's run through the list one more time. The President's plan is 
going to continue lowering the cost of prescription drugs. He is going 
to ensure that Medicare remains solvent beyond 2050, without cutting a 
penny in benefits. He is going to ask the wealthy to pay just a little 
more of their fair share in taxes without raising taxes on anyone 
making less than $400,000 a year. And his plan will cut the deficit by 
$2 trillion--$2 trillion--over the next 10 years.
  Speaker McCarthy, what about you? Where is your plan? Enough with the 
dodging. Enough with the excuses. It is time to level with the American 
people so they can see the contrast between Democrats and Republicans 
for themselves.