Senate Democrats unveil agenda

[ProSense]

From Senate Democratic leadership

Washington, D.C. – Senate Democratic leaders unveiled a detailed plan to create jobs, promote growth and help America win the future by making smart investments in education, innovation and infrastructure while cutting spending to live within our means. Senate Democrats also announced their support for President Obama’s five-year spending freeze, which will save $400 billion over the ten years and bring domestic discretionary spending to the lowest levels since President Eisenhower.

Senators Harry Reid, Dick Durbin, Charles E. Schumer and Patty Murray detailed legislative priorities that will chart a course for meeting the goal set in President Obama’s State of the Union of out-educating, out-innovating and out-building the rest of the world. The agenda balances the need for critical investments with a serious commitment to deficit reduction.

“While Republicans say 'so be it' to the unemployed, Senate Democrats are working to create jobs and make America more competitive," Sen. Reid said. “That means making smart choices about cutting waste and excess, and living within our means. As we reduce government spending and cut the deficit, we will continue to create jobs and strengthen our future by becoming the world leader in clean energy, reviving American manufacturing and preparing our workforce for the jobs of tomorrow.”

Democrats’ plan also calls for reforms to the tax code by cracking down on cheaters, eliminating inefficient loopholes and ending giveaways to billionaires and special interests.

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Tax Reform: Senate Democrats will work to simplify and shrink the tax code to reduce burdens on taxpayers and businesses so our economy can grow and create more jobs. These reforms will eliminate special interest tax giveaways and extra tax breaks for millionaires and billionaires, while cracking down on cheaters and closing loopholes that are inefficient and fail to accomplish their stated purpose.

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End Off-Shoring of American Jobs and Attract New Ones: Senate Democrats will continue to fight for the passage of legislation that keeps American jobs here and attracts new ones by closing tax loopholes and eliminating counterproductive tax incentives that send good-paying jobs offshore.

Extend and Expand the Successful Build America Bonds Program: Senate Democrats will work to extend and expand the successful Build America Bonds (BABs) program, which has accounted for more than $180 billion in bond issues in all 50 states. BABs have lowered the cost of borrowing for municipalities, helped to restore a badly damaged municipal finance market, and supported job creation through new infrastructure projects by delivering a more efficient subsidy than tax-exempt bonds.

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