House Progressives Unveil Economic Recovery Plan to Create Over 5 Million Jobs & Reduce Deficit by $2 Trillion

Proposal Includes Rep. Schakowsky’s Emergency Jobs to Restore the American Dream Act & Fairness in Taxation Provisions

Washington, DC--(ENEWSPF)--December 15, 2011.  On Wednesday, the Congressional Progressive Caucus (CPC) unveiled the Restore the American Dream for the 99% Act to create more than 5 million jobs and cut more than $2 trillion from the nation’s deficit over the next ten years while protecting critical services and benefits. The comprehensive plan includes major provisions from Rep. Jan Schakowsky’s Emergency Jobs to Restore the American Dream Act (H.R. 2914) and Fairness in Taxation Act (H.R. 1124) introduced earlier this year to put Americans back to work with direct hire jobs and reduce the deficit with fair taxes on millionaires and billionaires.

 After repeated efforts by Republicans to reenact the same failed economic policies that have not helped the American people, CPC Members traveled across the country in a series of town halls. Overwhelmingly, Americans said they want work and that cutting Social Security, Medicare, Medicaid, unemployment insurance and education is unacceptable. They also said big banks should pay to clean up the mess they made and that the wealthy should pay their fair share.

 The Restore the American Dream for the 99% Act is a package of emergency jobs legislation, sensible revenue raisers, cuts to unnecessary weapons programs and ways to strengthen and protect Medicare, Medicaid and Social Security.

 “The battle lines have been clearly drawn.  The bill we are introducing today provides our vision for America – one that responds aggressively to the needs of the 99% by creating good jobs, protecting Social Security,  Medicare and Medicaid, and asking the richest among us to pay their fair share,” said Rep. Schakowsky. “It stands in stark contrast to the efforts of our Republican colleagues, who have consistently prioritized the interests of the 1% -- millionaires, billionaires and rich corporations – ahead of the needs of working families, seniors, the poor and children. I support the Congressional Progressive Caucus for putting together some of the best ideas proposed by my fellow House members - including provisions from my Emergency Jobs to Restore the American Dream Act and the Fairness in Taxation Act - to provide a better way for the American people.” 

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RESTORE THE AMERICAN DREAM FOR THE 99% SUMMARY

Key jobs creation provisions

Revenue increases and savings

Protecting Medicare, Medicaid and Social Security

Source: schakowsky.house.gov