Washington, D.C. – Representative David Price (NC-04) gave the following statement today as the House of Representatives considered the Republican FY2013 budget proposal.

"Cutting through the desperate spin and looking at the math on the Republican budget shows it for what it is: a blueprint for transferring wealth to the already wealthy by ending Medicare as we know it and using the savings to fund tax cuts for the richest Americans.

"According to AARP, the Republican plan to privatize Medicare and turn it into a voucher system is, 'Likely to simply increase costs for beneficiaries while removing Medicare's promise of secure health coverage.'

"The Congressional Budget Office confirms that view, estimating that by 2030 new Medicare beneficiaries could pay $1,200 more per year, and by 2050 new beneficiaries could pay $5,900 more per year than under the current system. I will continue to oppose efforts to shift the burden of rising healthcare costs to our seniors, and I also will oppose efforts to undermine Medicaid, the system of health insurance for the working poor and disabled. Breaking our promise of guaranteed benefits and turning our backs on the most vulnerable Americans is unworthy of the most powerful nation in the world. We must do better.

"I also must note that rumors of this budget's fiscal prudence are greatly exaggerated. The Republican budget isn't serious about deficit reduction: the Congressional Budget Office's most optimistic assessment says the Republican plan does not achieve balance until at least 2039. And that assumes that the new tax breaks would be offset by unspecified and unlikely cuts to such deductions as charitable contributions and home mortgage interest. Why does the Republican budget take so long to achieve balance? The answer is simple: it lavishes further tax cuts on the wealthiest Americans.

"The Office of Management and Budget estimates that the Republican budget gives those making over $1 million dollars a year an average tax cut of at least $150,000. These are tax cuts paid for by cuts to Medicare, education and programs that help those with limited means. Let's follow the money. Here is how the Republican budget math works:

• 25 seniors will pay $5,900 more for Medicare to pay for one millionaire's $150,000 tax cut.

• 150 college students will have their Pell Grants cut by $1,000 to pay for one millionaire's $150,000 tax cut

• 216 pregnant women or postpartum women, infants and children would lose access to the WIC program to pay for one millionaire's tax cut.

"Budgets are about making choices. We do not have to ask about the Republican budget's priorities and values—they're wrong. We need a budget that works for the middle class and those trying to reach it, not just the wealthy few.

"As the ranking member on the House Homeland Security Appropriations Subcommittee, I am also deeply troubled by the Republican budget's spending cap. This budget caps spending at a level lower than that agreed upon in the Budget Control Act. Why are you going back on your word? We have an agreement on spending, but you're thumbing your nose at it. I suspect this is an effort to set-up another manufactured crisis in the fall, with a threatened government shutdown. The American people are tired of the Republican Congress putting games before sound governance."

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