NEW YORK, NY – Following the White House’s release of its latest budget proposal, Felicia Wong, President and CEO of the Roosevelt Institute, issued the following statement:
“Last year’s election was a reminder of what many have been arguing for years; the economy is not delivering for too many Americans because it funnels too much wealth to those who are already wealthy.
“The budget proposal from the Trump administration combines large tax decreases at the top with cuts in vital safety net programs like Medicaid, food stamps, and the Children’s Health Insurance Program. It slashes educational opportunity by cutting loan programs for low-income college students, and eliminating loan forgiveness for working people: nurses, police officers, teachers. This budget will harm America’s most vulnerable people and make matters worse for those who can least afford it. These are the very people whom Donald Trump promised to serve during his presidential campaign. This budget breaks that promise.
“And beyond the personal harm these cuts will cause to millions, these cuts will not create jobs or raise wages. Economists across the board agree that Administration’s promises of growth from these cuts are simply not realistic. Adding insult to injury, the budget cuts financial regulation, which has delivered for working Americans.”
For years, the Roosevelt Institute has called on policy makers to rewrite the rules of the American economy so that more people can share in its prosperity. Following the 2016 election, the Institute teamed up with Democracy Corps to conduct a focus group survey of swing voters in Michigan who supported President Trump. This survey found these voters trusted President Trump far more than they trusted congressional Republicans but would potentially drop their support if he pushed through budget and tax policies that favored the wealthy over the working class.
About the Roosevelt Institute
Until economic and social rules work for all Americans, they’re not working. Inspired by the legacy of Franklin and Eleanor, the Roosevelt Institute reimagines the rules to create a nation where everyone enjoys a fair share of our collective prosperity. We are a 21st century think tank bringing together multiple generations of thinkers and leaders to help drive key economic and social debates and have local and national impact.