| |
Budget Category |
Category |
Description |
Savings over 10 Yrs
(FY 12 - 21) |
Source |
Source Citation |
Comments |
| 1 |
Discretionary Spending |
Non-Defense Spending |
Reduce non-defense discretionary spending by 1% each
year for next 10 years. |
$1,082,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 14.1 |
|
| 2 |
Discretionary Spending |
Defense |
Reduce defense appropriations by 1% annually for
next 10 years. |
$862,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1.1 |
|
| 3 |
Discretionary Spending |
Non-Defense Spending |
Freeze non-defense discretionary spending at FY 11
levels. |
$749,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 14.2 |
|
| 4 |
Discretionary Spending |
Defense |
Freeze defense appropriations at FY 11 level. |
$611,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1.2 |
|
| 5 |
Discretionary Spending |
Non-Defense Spending |
Limit rate of growth in non-defense discretionary
spending to 1.2% a year for next 10 years. |
$378,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 14.3 |
|
| 6 |
Discretionary Spending |
Defense |
Limit rate of growth in DOD appropriations to 1.4
percent a year. |
$286,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1.3 |
|
| 7 |
Discretionary Spending |
Veterans |
Prevent military retirees and their dependents from
enrolling in TRICARE Prime. Allow retirees and their dependents to enroll in
TRICARE Standard or Extra and would pay monthly enrollment FEE set at 28% of
the cost of providing benefits. |
$111,100,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 4 |
|
| 8 |
Discretionary Spending |
Transportation |
Reduce federal funding for the highway system
starting in 2012 by lowering obligation limitation for the Federal-Aid
Highways Program to the amount of projected revenues going to the highway
account of the Highway rust Fund. |
$108,100,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 20 |
|
| 9 |
Discretionary Spending |
Federal Employees |
Reduce annual salary increase by .5% each year for
Federal civilian employees. |
$50,710,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 37 |
|
| 10 |
Discretionary Spending |
Transportation |
Eliminate intercity rail subsidies, including Amtrak
and high speed rail service. |
$44,700,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 23 |
|
| 11 |
Discretionary Spending |
Research |
Reduce NIH funding to FY 03 levels and only allow
future growth to be tied ton inflation. |
$42,750,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 33.1 |
|
| 12 |
Discretionary Spending |
Federal Employees |
Slow growth of federal contributions to the Federal
Employees Health Benefits Program by offering voucher for first $5,000 of an
individual premium, and $11,000 of a family premium. Index future increases
to inflation. (plus $31.35 Bil in Mandatory) |
$41,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 14 |
|
| 13 |
Discretionary Spending |
Infrastructure |
Eliminate federal grants to wastewater and drinking
water infrastructure (Clean Water Act and Safe Drinking Water act state
revolving funds) |
$36,530,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 17 |
|
| 14 |
Discretionary Spending |
Defense |
Replace Joint Strike Fighter Program with F-16's and
F/A-18's. |
$36,100,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 7 |
|
| 15 |
Discretionary Spending |
Veterans |
Limit access for veterans seeking medical care from
the Department of Veterans Affairs by closing enrollment for priority groups
7 and 8 and cancel the enrollment of all veterans currently in those groups. |
$34,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 35 |
|
| 16 |
Discretionary Spending |
Veterans |
Raise enrollment FEES, copayments and deductibles
for military retirees under age 65 who choose to use TRICARE. |
$29,700,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 3 |
|
| 17 |
Discretionary Spending |
Housing |
Increase payments by tenants in federally assisted
housing from 30% of adjusted gross family income to 35% by 2016. |
$26,440,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 34 |
|
| 18 |
Discretionary Spending |
Veterans |
Raise copayments for pharmaceuticals under TRICARE. |
$26,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 5 |
|
| 19 |
Discretionary Spending |
Transportation |
Eliminate the New Starts program that funds
expansion of rail and other mass-transit systems and the Small Starts Program
that provides grants for public transportation capital projects. |
$21,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 24 |
|
| 20 |
Discretionary Spending |
Transportation |
Increase aviation security FEES by implementing flat
$5 FEE per one way trip. Passengers currently pay $2.50 for a trip with no
stops and $5 for a trip with 1 or more stops. |
$20,800,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 22 |
|
| 21 |
Discretionary Spending |
Defense |
Cancel further development of the Navy and Marine
Corps' Joint Strike Fighters and Replace Aircraft with F/A-18E/Fs currently
in production. |
$18,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 8 |
|
| 22 |
Discretionary Spending |
Defense |
Cap increases in military pay at .5 percent below
increase in the employment cost index. |
$17,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 2 |
|
| 23 |
Discretionary Spending |
Education |
Eliminate funding for 11 discretionary grant
programs at the Department of Education that address the physical, emotional
and social well-being of students in and out of the classroom; including the
21st Century Community Learning Center program. |
$16,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 27 |
|
| 24 |
Discretionary Spending |
Research |
Restrict growth in NIH funding to 1% each year. |
$13,280,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 33.2 |
|
| 25 |
Discretionary Spending |
Federal Employees |
Reduce size of federal workforce by 10% through
attrition (this $ is thru 2015) |
$13,200,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 26 |
Discretionary Spending |
Education |
Restrict access to Pell Grants by making students
with an Expected Family Contribution (EFC) over $2500 ineligible for a Pell
Grant. |
$12,640,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 28 |
|
| 27 |
Discretionary Spending |
National Service |
Eliminate funding for National Community Service
Programs including AmeriCorps. |
$12,120,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 29 |
|
| 28 |
Discretionary Spending |
Food Safety |
Finance all mandatory federal inspections of meat,
poultry and egg products with FEES paid by processing facilities. |
$11,600,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 32 |
|
| 29 |
Discretionary Spending |
Transportation |
Eliminate grants to large and medium sized airports.
There are currently 65 large and medium sized airports that account for 90%
of all passenger boarding's. Keeping grants for small airports only would
save $11.6b over 10 years. |
$11,610,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 21 |
|
| 30 |
Discretionary Spending |
Defense |
Consolidate DOD's four retail systems on military
bases into single retail system over 5 years. Provide tax free grocery
allowance to active duty service members to compensate for potential
increased product costs. |
$9,100,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 6 |
|
| 31 |
Discretionary Spending |
Public Safety |
Reduce funding for law enforcements activities
funded by the Department of Justice, including State and Local Law
Enforcement Assistance, Justice Assistance, Juvenile Justice, Community
Oriented Policing Services (COPS), and Violence Against Women programs by 5%
for next 5 years. |
$9,042,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 36 |
|
| 32 |
Discretionary Spending |
National Service |
Eliminate the Senior Community Service Employment
Program that funds part time jobs for low-income people over age 55. |
$9,041,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 30 |
|
| 33 |
Discretionary Spending |
Energy |
Reduce funding for energy efficiency and renewable
energy research, development and demonstration by 25% below FY 11 levels. |
$7,628,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 16.3 |
|
| 34 |
Discretionary Spending |
Defense |
Delay initial fielding of Army's Ground Combat
Vehicle until 2025. |
$7,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 11 |
|
| 35 |
Discretionary Spending |
Economic Development |
Eliminate wealthier "Entitlement
Communities" from Community Development Block Grant Program (CDBG) and
direct funding to needier communities. |
$6,123,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 26 |
|
| 36 |
Discretionary Spending |
Arts and Humanities |
Reducing funding for NEA, NEH, Corporation for
Public Broadcasting, National Gallery of Art and JFK Center for Performing
Arts by 25% and freeze future spending |
$5,318,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 31 |
|
| 37 |
Discretionary Spending |
Defense |
End development of the Medium Extended Air Defense
System (MEADS). |
$4,340,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 12 |
|
| 38 |
Discretionary Spending |
Infrastructure |
Increase FEES for use of inland waterway system.
FEES would be set high enough to cover costs of constructing, operating and
maintaining inland waterways. Currently, 50% of these costs are paid by a tax
on fuel consumed by towboats, the rest through appropriations. |
$4,326,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 18 |
|
| 39 |
Discretionary Spending |
Trade |
Eliminate the International Trade Administration's
Trade Promotion Activities designed to increase competitiveness of U.S.
industries and increase exports. |
$3,824,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 19 |
|
| 40 |
Discretionary Spending |
Energy |
Reduce funding for nuclear energy research,
development and demonstration by 25% below FY 11 levels. |
$3,720,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 16.2 |
|
| 41 |
Discretionary Spending |
Infrastructure |
Create state revolving funds to finance rural water
and waste disposal. |
$3,289,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 25 |
|
| 42 |
Discretionary Spending |
Energy |
Reduce funding for fossil energy research,
development and demonstration by 25% below FY 11 levels. |
$3,245,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 16.1 |
|
| 43 |
Discretionary Spending |
Energy |
Eliminate Dept. of Energy's grants to states for
energy conservation and weatherization. |
$2,750,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 15 |
|
| 44 |
Discretionary Spending |
Defense |
Cancel the Expeditionary Fighting Vehicle program,
but provide stream of research and development funds to enable Marine Corps
to come up with alternative to the EFV. |
$2,490,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 10 |
|
| 45 |
Discretionary Spending |
FEES |
Charge transaction FEES to fund the Commodity
Futures Trading Commission. |
$1,998,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 38.7 |
|
| 46 |
Discretionary Spending |
FEES |
Charge FEES to offset the cost of federal rail
safety activities. |
$1,882,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 38.6 |
|
| 47 |
Discretionary Spending |
Defense |
Reduce number of aircraft carriers to 10 (from 11)
and navy air wings to 9 (from 10) |
$1,810,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 9 |
|
| 48 |
Discretionary Spending |
Defense |
End the Precision Tracking Space System being
designed by the Missile Defense Agency. |
$1,580,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 13 |
|
| 49 |
Discretionary Spending |
Federal Government |
Reduce federal printing, travel and vehicle budgets
by 20%. (this $ is thru 2015) |
$1,100,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 50 |
Discretionary Spending |
FEES |
Collect new FEES for the Food and Drug
Administration. |
$843,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 38.9 |
|
| 51 |
Discretionary Spending |
FEES |
Impose FEES that recover the costs of pesticide and
new-chemical registration. |
$816,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 38.5 |
|
| 52 |
Discretionary Spending |
FEES |
Increase FEES for permits issued by Army Corps of
Engineers. |
$554,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 38.1 |
|
| 53 |
Discretionary Spending |
FEES |
Increase registration FEES for the Federal Aviation
Commission. |
$530,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 38.8 |
|
| 54 |
Discretionary Spending |
FEES |
Authorize maintenance and location FEES for hardrock
mining on federal lands. |
$525,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 38.2 |
|
| 55 |
Discretionary Spending |
FEES |
Impose FEES on users of the St. Lawrence Seaway. |
$354,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 38.4 |
|
| 56 |
Discretionary Spending |
FEES |
Use state formulas to set grazing FEES for federal
lands. |
$160,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 38.3 |
|
| 57 |
Discretionary Spending |
Federal Government |
Instruct General Services Administration to loosen
restrictions making it easier to sell excess federal property. |
$100,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 58 |
Discretionary Spending |
Health Care |
Eliminate funding for Title X family planning. |
$3,180,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 59 |
Discretionary Spending |
Interior |
Eliinate funding for Save America's Treasures
Program, a public-private effort to protect threatened cultural and
historical treasures in America. |
$250,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 60 |
Discretionary Spending |
Foreign Aid |
Eliminate funding for the International Fund for
Ireland. |
$170,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 61 |
Discretionary Spending |
Low Income Programs |
Eliminate the Legal Services Corporation. |
$4,200,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 62 |
Discretionary Spending |
Interior |
Eliminate National Heritage Area Grants and
Statutory Aid intended to provide seed money to non-federal sites of culutral
and historical value operated by state or local agencies. |
$2,400,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 63 |
Discretionary Spending |
Education |
Eliminate Exchange Programs for Alaska Natives,
Native Hawaiians, and their Historic Whaling and Trading Partners. |
$90,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 64 |
Discretionary Spending |
Jobs |
Eliminate the Economic Development Administration
which provides various grants, loans, and other subsidies for economic
development to state and local governments. |
$2,930,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 65 |
Discretionary Spending |
Energy |
Eliminate the The Energy Star Program, a joint
initiative of the Department of Energy (DOE) and the Environmental Protection
Agency (EPA). |
$520,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 66 |
Discretionary Spending |
Foreign Aid |
Eliminate the U.S. Agency for International
Development (USAID). |
$13,900,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 67 |
Discretionary Spending |
District of Columbia |
Eliminate general assistance to the District of
Columbia. |
$2,100,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 68 |
Discretionary Spending |
District of Columbia |
Eliminate federal funding to the Washington
Metropolitan Area Transit Authority. |
$1,500,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 69 |
Discretionary Spending |
Foreign Aid |
Eliminate funding to the United NationŐs
Intergovernmental Panel on Climate Change (IPCC) |
$125,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 70 |
Discretionary Spending |
Foreign Aid |
Cut funding for foreign aid by 50%. The U.S. spent
$33b on foreign aid in Fiscal Year 2011, around 1% of the federal budget. |
$115,000,000,000 |
Reuters "Obama's "smart power" plan
risks death of 1,000 cuts" Sept 7, 2011 |
|
|
| 71 |
Discretionary Spending |
Housing |
Eliminate the HOPE VI program that provides grants
to public housing agencies to demolish and rebuild public housing units. |
$2,500,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 72 |
Discretionary Spending |
Education |
Eliminate federal funding to the Woodrow Wilson
Center for International Scholars. |
$200,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 73 |
Discretionary Spending |
Jobs |
Eliminate federal funding for the Manafacturing
Extension Partnership that helps small and mid-sized U.S. manufacturers
create and retain jobs |
$1,250,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 74 |
Discretionary Spending |
Jobs |
Eliminate the Appalachian Regional Commission that
promotes economic development in 9 states. |
$760,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 75 |
Discretionary Spending |
Energy |
Eliminate funding for all applied research at the
Department of Energy. |
$12,700,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 76 |
Discretionary Spending |
Energy |
Eliminate the FreedomCAR and fuel partnership
program provides funding for research on fuel cell technology. |
$2,000,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 77 |
Discretionary Spending |
Agriculture |
Eliminate the U.S. Department of Agriculture's Sugar
Program that maintains price controls by loaning money to sugar producers
and, if necessary, directly purchasing sugar during periods of low prices to
raise the price to preset levels. |
$140,000,000 |
Republican Study Committee "Spending Reduction
Act" Jan 2011 |
|
|
| 78 |
Mandatory Spending |
Iraq / Afghanistan |
Ending the overseas contingency operations
emergency supplemental and on-budget appropriations for Iraq and Afghanistan
starting in Fiscal Year 2013, providing $170 billion in Fiscal Year 2012 to
fund redeployment. |
$1,600,000,000,000 |
Economic Policy Institute, "The Peoples Budget:
A Technical Analysis" April, 2011 |
|
|
| 79 |
Mandatory Spending |
Medicaid |
Convert the federal share of Medicaid spending into
a block grant program and index future spending to inflation. |
$750,000,000,000 |
FY 2012 Budget Resolution "The Path to
Prosperity: Restoring America's Promise." |
|
|
| 80 |
Mandatory Spending |
Federal Employees |
Freeze federal employee pay through 2015 and require
federal employees to pay for half of the defined benefit they
receive at retirement. |
$375,000,000,000 |
FY 2012 Budget Resolution "The Path to
Prosperity: Restoring America's Promise." |
|
|
| 81 |
Mandatory Spending |
Low Income Programs |
Cap the Supplemental Nutrition Assistance Program
(SNAP) at FY 2007 levels. |
$350,000,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 82 |
Mandatory Spending |
Medicaid |
Convert federal share of Medicaid payments for long
term care services into block grant and index future increases to employment
cost index. |
$287,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 15.1 |
|
| 83 |
Mandatory Spending |
Medicare |
Gradually raise the basic premium for Medicare Part
B from 25% to 35% for enrollees over 65 over a 5 year period. |
$241,200,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 22 |
|
| 84 |
Mandatory Spending |
Medicaid |
Convert federal share of Medicaid payments for long
term care services into block grant and index future increases to employment
cost index and changes in the number of aged, blind, and disabled people
enrolled in Medicaid. |
$186,600,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 15.2 |
|
| 85 |
Mandatory Spending |
Medicaid |
Lower the 50% floor on federal matching rates to 45%
for all Medicaid covered services that are reimbursed at FMAP rate. Lowering
floor to 45% would reduce FMAP reimbursement rates for 14 states. |
$181,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 16 |
|
| 86 |
Mandatory Spending |
Social Security |
Raise earliest social security eligibility age to 64
by 2025. |
$143,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 29 |
|
| 87 |
Mandatory Spending |
Social Security |
Switch to pure price indexing for calculating social
security benefits. |
$136,600,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 28.1 |
|
| 88 |
Mandatory Spending |
Medicare |
Raise Medicare eligibility age to 67. |
$124,800,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 18 |
|
| 89 |
Mandatory Spending |
Social Security |
Raise full social security retirement age to 70. |
$119,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 30 |
|
| 90 |
Mandatory Spending |
Medicare |
Require manufacturers of brand name drugs to pay
federal government a rebate on drugs purchased by enrollees on the Medicare
Part D low-income-subsidy (LIS) program. |
$112,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 25 |
|
| 91 |
Mandatory Spending |
Social Security |
Base cost of living adjustments for social security
on chained consumer price index. |
$112,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 27 |
|
| 92 |
Mandatory Spending |
Medicare |
Replace Medicare's current mix of cost sharing
requirements with a single combined annual deductible of $550 for all Part A
and Part B services, a uniform coinsurance rate of 20% above that deductible
with an annual cap of $5,500 on an enrollees total cost-sharing liabilities
and Bar Medigap policies from paying any of the first $550 of an enrollee's
cost-sharing liabilities in 2013 and limit coverage to 50% of the next $4,950
in cist sharing. |
$92,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 21.3 |
|
| 93 |
Mandatory Spending |
Social Security |
Change the way social security retirement benefits
are calculated by applying progressive benefit formula to each year of
indexed earnings. |
$88,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 32 |
|
| 94 |
Mandatory Spending |
Health Care |
Add public option to health insurance exchanges. |
$88,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 12 |
|
| 95 |
Mandatory Spending |
Social Security |
Switch to progressive price indexing for calculating
social security benefits. |
$84,600,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 28.2 |
|
| 96 |
Mandatory Spending |
Health Care |
Turn federal payments for Graduate Medical Education
(GME) at teaching hospitals into grant program and index future increases to
inflation. |
$69,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 17 |
|
| 97 |
Mandatory Spending |
Health Care |
Medical Malpractice reform. Placing a 250k cap on
non-punitive damages, 500k cap on punitive damages, 1 yr statute of
limitations fir adults, 3 for children and implementing fair share rule would
result in savings of $62.4 billion over 10yrs. |
$62,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 13 |
|
| 98 |
Mandatory Spending |
Medicare |
Eliminate critical access hospitals,
Medicare-dependent hospitals and sole community hospitals programs and end
higher payments made to those facilities. |
$62,200,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 24 |
|
| 99 |
Mandatory Spending |
Medicare |
Bar Medigap policies from paying any of the first
$550 of an enrollee's cost-sharing liabilities in 2013 and limit coverage to
50% of the next $4,950 in cist sharing. |
$53,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 21.2 |
|
| 100 |
Mandatory Spending |
Education |
Change interest rate structure on federal student
and parent loans by tying interest rate on all new loans to the interest rate
on 10 year Treasury notes at beginning of academic year in which loan is
originated, plus 3 % points. |
$52,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 11 |
|
| 101 |
Mandatory Spending |
Social Security |
Gradually change the way social security retirement
benefits are calculated by gradually lengthening the worker's average indexed
monthly earnings (AIME) from 35 years to 38 years for people who turn 62 in
2014 and beyond. |
$51,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 31 |
|
| 102 |
Mandatory Spending |
Federal Employees |
Adjust the ratio of employer/employee contributions
to federal employee pension plans to equalize contributions. |
$51,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 103 |
Mandatory Spending |
Medicaid |
Extend Medicaid drug rebate to dual eligibles in
Medicare Part D. |
$49,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 104 |
Mandatory Spending |
Medicare |
Reduce Medicare provider payment rates for services
offered under Parts A and Parts B in high cost areas. |
$48,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 23 |
|
| 105 |
Mandatory Spending |
Medicaid |
Many states finance a portion of their Medicaid
spending by imposing taxes on the very same health care providers who are
paid by the Medicaid program, increasing payments to those providers by the
same amount and then using that additional ŇspendingÓ to increase their
federal match. Restrict and eventually eliminating this practice. |
$44,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 106 |
Mandatory Spending |
Veterans |
Introduce minimum out of pocket requirements for
TRICARE for Life program. TFL would not cover first $550 of enrollees cost
sharing payments under Medicare and only 50% of next $4,950. Enrollees would
not be required to pay more than $3,025 in cost sharing per year. |
$43,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1 |
|
| 107 |
Mandatory Spending |
Education |
Eliminate income-based subsidies for federal student
loan borrowers and better target hardship relief for loan repayment. |
$43,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 108 |
Mandatory Spending |
Medicare |
Require a copayment equal to 10% of total cost for
each home health care episode for Medicare beneficiaries. |
$40,100,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 20 |
|
| 109 |
Mandatory Spending |
Medicare |
Replace Medicare's current mix of cost sharing
requirements with a single combined annual deductible of $550 for all Part A
and Part B services, a uniform coinsurance rate of 20% above that deductible
with an annual cap of $5,500 on an enrollees total cost-sharing liabilities. |
$32,200,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 21.1 |
|
| 110 |
Mandatory Spending |
Federal Employees |
Slow growth of federal contributions to the Federal
Employees Health Benefits Program by offering voucher for first $5,000 of an
individual premium, and $11,000 of a family premium. Index future increases
to inflation. (plus $41.9 Bil in Discretionary) |
$31,350,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 14 |
|
| 111 |
Mandatory Spending |
Medicare |
Change Medicare by giving individuals who become
entitled to Medicare after 2020 a voucher with which to purchase private
health insurance. These individuals would no longer receive coverage through
the current Medicare program. Federal spending for the proposed vouchers
would grow for only three reasons: the prescribed rate of increase in the
value of the vouchers, growth in the eligible population, and the aging of
the Medicare population over time. |
$30,000,000,000 |
FY 2012 Budget Resolution "The Path to
Prosperity: Restoring America's Promise." |
|
|
| 112 |
Mandatory Spending |
Housing |
Increase average guarantee FEE-assesed on loans for
mortgage backed securities by Fannie Mae and Freddie Mac by 5 basis points,
or 20%. |
$26,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 9 |
|
| 113 |
Mandatory Spending |
Financial Services |
Repeal Dodd-Frank financial reform law. |
$26,000,000,000 |
FY 2012 Budget Resolution "The Path to
Prosperity: Restoring America's Promise." |
|
Does not take into account savings due to the bill |
| 114 |
Mandatory Spending |
Federal Employees |
Base cost of living adjustments for federal civilian
and military pensions and veterans benefits on the chained consumer price
index. |
$24,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 26 |
|
| 115 |
Mandatory Spending |
Medicare |
End practice of Medicare providing reimbursements to
hospitals and other providers for unpaid deductibles and co-pays owed by
beneficiaries. |
$23,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 116 |
Mandatory Spending |
Health Care |
Reform the Medicare Sustainable Growth Rate for
physician payment and require the fix to be offset. Freeze payments to
physicians until 2020, and direct Center for Medicaid Studies to develop
improved formula. |
$22,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 117 |
Mandatory Spending |
Medicare |
Impose Cost Sharing for first 20 days of a stay in a
skilled nursing facility under Medicare. Medicare currently covers up to 100
days at a skilled nursing facility. |
$21,300,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 19 |
|
| 118 |
Mandatory Spending |
Education |
Eliminate subsidized Stafford Loans to graduate
students. |
$18,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 10 |
Already included in first round of cuts in Budget
Control Act. |
| 119 |
Mandatory Spending |
Health Care |
Reduce funding for the State Children's Health
Insurance Program (SCHIP) by repealing 2009 eligibility expansion. |
$18,000,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 120 |
Mandatory Spending |
Retirees |
Transform the Federal Employees Health Benefits
(FEHB) program into a defined contribution premium support plan that offers
federal employees a fixed subsidy that grows by no more than GDP plus 1
percent each year. |
$18,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 121 |
Mandatory Spending |
Federal Employees |
Defer Cost of Living Adjustment (COLA) for retirees
in the current system until age 62, including for civilian and military
retirees who retire well before a conventional retirement age. In place of
annual increases, provide a one-time catch-up adjustment at age 62 to
increase the benefit to the amount that would have been payable had full
COLAs been in effect. |
$17,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 122 |
Mandatory Spending |
Retirees |
Give Pension Benefit Guarantee Corporation power to
raise premiums. |
$16,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 123 |
Mandatory Spending |
Low Income Programs |
Reduce funding for family support programs, such as
Temporary Assistance for Needy Families (TANF) to FY 2007 levels and index
future increases to inflation. |
$14,000,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 124 |
Mandatory Spending |
Medicaid |
Place dual eligibles in Medicaid managed care. |
$12,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 125 |
Mandatory Spending |
Agriculture |
Reduce premium subsidy in crop insurance program.
Program protects farmers from losses caused by drought, floods, pest
infestation, and natural disasters. Fed government pays 60 percent of total
premium. Reducing fed government share to 50% would save over $11.8b over 10
yrs. |
$11,800,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 6 |
|
| 126 |
Mandatory Spending |
Agriculture |
Prohibit new enrollment in Conservation Stewardship
Program. CSP gives agricultural producers financial and technical help with
conserving and improving soil, water, air, energy and plant and animal life.
Farmers enter into 5 year contracts. Letting current contracts expire and
prohibiting new enrollment after 2012 would save 10.5 billion over 10 years. |
$10,549,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 4 |
|
| 127 |
Mandatory Spending |
Trade |
Eliminate Trade Adjustment Assistance programs that
provide additional unemployment benefits and training assistance to workers
who lose their jobs as a result of foreign competition. |
$10,000,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 128 |
Mandatory Spending |
Agriculture |
Reduce portion of a producer's base acreage eligible
for direct payments by 20 percent. This would save $9.5b over 10 years. |
$9,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 7 |
|
| 129 |
Mandatory Spending |
Health Care |
The Affordable Care Act included several policies
changing reimbursements for home health providers. The Commission recommends
accelerating these changes to incorporate productivity adjustment beginning
in 2013 and directing the Secretary of Health and Human Services (HHS) to
phase in rebasing the home health prospective payment system by 2015 instead
of 2017. |
$9,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 130 |
Mandatory Spending |
Agriculture |
Limit enrollment in Conservation Reserve Program.
Land owners currently sign 10-15 yr contracts with USDA to in exchange for
annual payments and cost-sharing grants aimed at promoting soil conservation
and protecting wildlife. Enrollment is capped at 32 million acres, 31 million
acres are currently in the program. Prohibiting new enrollments after 2012
would reduce enrollment to 11.9 million acres and save $8.6 billion over 10
yrs. |
$8,600,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 5 |
|
| 131 |
Mandatory Spending |
Energy |
Reduce size of Strategic Petroleum Reserve. Reduce
holdings by 10 percent by 2016, then maintain reserve of 650 million barrels.
SPR can currently hold 727 million barrels. CBO estimates that selling 75
million barrels of excess oil would generate $700m in revenue for FY 12 and
$6b over 5 years. |
$6,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 3 |
|
| 132 |
Mandatory Spending |
Federal Employees |
Use the highest five years of earnings to calculate
civil service pension benefits for new retirees (CSRS and FERS), rather than
the highest three years prescribed under current law, to bring the benefit
calculation in line with the private sector standard. |
$5,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 133 |
Mandatory Spending |
Energy |
Transfer Tennessee Valley Authority's electric
utility functions to private company. |
$4,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 2 |
|
| 134 |
Mandatory Spending |
Housing |
Lower limits on mortgages guaranteed by Fannie and
Freddie to $417,000 for non high costs areas and 625,000 for high cost areas. |
$3,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 8 |
|
| 135 |
Mandatory Spending |
Agriculture |
Eliminate the Market Access Program intended to
promote overseas marketing of U.S. agricultural products. |
$2,000,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 136 |
Mandatory Spending |
Medicaid |
Ask states to take responsibility for more of
MedicaidŐs administrative costs by eliminating Medicaid payments for
administrative costs that are duplicative of funds originally included in the
Temporary Assistance for Needy Families (TANF) block grants. |
$2,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 137 |
Mandatory Spending |
Energy |
Allow power marketing administrations, part of the
Department of Energy, that generate and sell electricity from federally owned
hydroelectric facilities and power plants to raise prices to market rates.
Would raise around $200 million in additional revenue each year. |
$2,000,000,000 |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 138 |
Mandatory Spending |
Campaign Finance |
Eliminate the Presidential Election Campaign Fund,
effectively ending public financing of presidential elections. |
$617,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 139 |
Mandatory Spending |
Agriculture |
Eliminate the Foreign Market Development Program
used by agricultural trade associations and commodity groups to help
promote exports and provide nutritional and technical assistance to other
countries. |
$350,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 140 |
Mandatory Spending |
Currency |
Replace the dollar bill with a dollar coin. |
$215,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 141 |
Mandatory Spending |
Housing |
Eliminate Fannie Mae and Freddie Mac. |
No figure available. |
FY 2012 Budget Resolution "The Path to
Prosperity: Restoring America's Promise." |
|
Does not take into account impact on mortgage rates |
| 142 |
Mandatory Spending |
Medicare |
Direct the Center for Medicare Studies (CMS) to
design and begin implementation of Medicare payment reform pilots,
demonstrations, and programs as rapidly as possible and allow successful
programs to be expanded without further congressional action. |
No figure available. |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 143 |
Mandatory Spending |
Health Care |
The Affordable Care Act established the Independent
Payment Advisory Board to recommend changes in Medicare payment policies if
per-beneficiary Medicare spending grows too quickly. However, the law
exempted certain provider groups, most notably hospitals, from any short-term
changes from IPABŐs authority. The Commission recommends eliminating these
carve-outs. |
No figure available. |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 144 |
Mandatory Spending |
Interior |
Eliminate payments to states for the Abandoned Mine
Land program at the Department of the Interior operates a fund for the
reclamation of abandoned coal mines across the United States. |
No figure available. |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 145 |
Mandatory Spending |
Telecommunications |
Grant the FCC authority to conduct incentive
auctions to free up spectrum for commercial wireless providers, which the FCC
estimates could generate significant mandatory receipts. |
No figure available. |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 146 |
Mandatory Spending |
Federal Government - FEES |
The federal government charges user FEES or
licensing FEES for a variety of products and services it provides to
individuals and businesses. These FEES should be indexed for inflation. |
No figure available. |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 147 |
Mandatory Spending |
Postal Service |
Reverse restrictions that prevent the Postal Service
from taking steps to survive – such as shifting to five-day delivery
and gradually closing down post offices no longer able to sustain a positive
cash-flow. |
No figure available. |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
|
| 148 |
Mandatory Spending |
Medicare |
Ask Medicare enrollees to contribute more for the
cost of lab tests through deductibles and coinsurance. |
$24,000,000,000 |
National Journal "Super-Committee Health Cuts
Would Hit Everyone" Sept, 8, 2011 |
|
|
| 149 |
Mandatory Spending |
Health Care |
Repeal the 2010 Health Care Reform law. |
$677,000,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
Only some Republicans believe repeal will actually
SAVE money |
| 150 |
Mandatory Spending |
|
Repeal the 2010 Health Care Reform law. |
$210,000,000,000 increase in debt. |
CBO "Cost Estimate for H.R. 2, Repealing the
Job-Killing Health Care Law Act" Feb 18, 2011 |
|
CBO projects repealing the Health Care Reform law
will increase the deficit by $210 billion over the first decade. |
| 151 |
Mandatory Spending |
Health Care |
Eliminate the Community Living Assistance Services
and Supports (CLASS) Act, a voluntary long-term care insurance program
enacted as part of the Affordable Care Act (ACA). |
76,000,000,000 increase |
The Moment of Truth: Report of the National
Commission on Fiscal Responsibility and Reform, December 2010. |
|
Repealing the CLASS Act would increase the deficit
by $76 billion over the next decade, but some believe that savings would be
found outside of the 10 year window. |
| 152 |
Revenue |
Taxes - Individual |
Impose a 5% Value Added Tax (VAT) on most goods and
services. |
$2,500,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 27 |
|
| 153 |
Revenue |
Taxes - Individual |
Limit the tax benefit of itemized deductions to 15%. |
$1,180,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 7 |
|
| 154 |
Revenue |
Energy |
Establish cap and trade program governing emissions
of greenhouse gases in US. |
$1,178,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 35 |
|
| 155 |
Revenue |
Taxes |
Pass "Fairness in Taxation Act" - new tax
brackets for income starting at $1 million and ending with a $1 billion
bracket. The new brackets would be: $1-10 million: 45%, $10-20 million:
46%, $20-100 million: 47%, $100 million to $1 billion: 48%, $1 billion and
over: 49%. |
$872,500,000,000 |
Economic Policy Institute, "The Peoples Budget:
A Technical Analysis" April, 2011 |
|
|
| 156 |
Revenue |
Taxes - Individual |
Eliminate the deduction for state and local taxes
for individuals. |
$862,200,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 5.1 |
|
| 157 |
Revenue |
Taxes - Individual |
Raise all ordinary tax rates, Alternative Minimum
Tax (AMT) rates, dividends and capital gains rates by 1%. |
$715,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1.3 |
(CBO's figures assume tax rates revert to pre-Bush
levels at end of 2012.) |
| 158 |
Revenue |
Taxes - Individual |
Raise all ordinary tax rates and Altrenative Minimum
Tax (AMT) rates by 1%. |
$702,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1.2 |
(CBO's figures assume tax rates revert to pre-Bush
levels at end of 2012.) |
| 159 |
Revenue |
Taxes - Individual |
Allow Bush-era tax cuts for families earning over
$250,000 and individuals earning $200,0000 expire as scheduled at end of
2012. |
$700,000,000,000 |
New York Times "The Truth About Taxes"
August 6, 2011 |
|
|
| 160 |
Revenue |
Taxes - Health Care |
Replace .9% Hospital Insurance (HI) surtax on
earnings over $200,000 for an individual and $250,000 for a family with a !5
increase in the total HI tax on all earnings. |
$651,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 31 |
|
| 161 |
Revenue |
Taxes - Individual |
Limit the deduction for state and local taxes for
individuals to 2% of adjusted gross income. |
$629,300,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 5.2 |
|
| 162 |
Revenue |
Taxes - Individual |
Raise all tax rates on ordinary income by 1%. |
$480,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1.1 |
(CBO's figures assume tax rates revert to pre-Bush
levels at end of 2012.) |
| 163 |
Revenue |
Social Security |
Increase maximum taxable earning for social security
payroll tax to $170,000. Most of these savings would be off budget. |
$456,700,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 16 |
|
| 164 |
Revenue |
Taxes - Individual |
Tax social security and railroad retirement benefits
in the same way that distributions from defined-benefit pensions are taxed. |
$438,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 11 |
|
| 165 |
Revenue |
Taxes - Individual |
Eliminate existing taxes on income replacement
benefits like unemployment benefits, workers compensation and disability
benefits, but include the value of several taxes, premiums and other
contributions paid by the employer in the employee's taxable income. |
$311,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 8 |
|
| 166 |
Revenue |
Taxes - Health Care |
Accelerate implementation of excise tax on high cost
health care coverage to 2014, instead of 2018 as in current law. Starting in
2014, implement 40% excise tax on qualifying contributions that exceed
$21,000 a year for family coverage and $8,200 for individual. |
$309,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 30 |
|
| 167 |
Revenue |
Health Care |
Repeal the individual health care mandate. |
$282,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 32 |
Only Republicanms think this will save money |
| 168 |
Revenue |
Taxes - Business |
Extend the period for depreciating costs of certain
investments from 3,5,7,10, 15 or 20 years to 4,8,11,20 30 or 39 years. |
$276,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 22 |
|
| 169 |
Revenue |
Taxes - Individual |
Include investment income from life insurance and
annuities in taxable income for individuals. |
$259,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 9 |
|
| 170 |
Revenue |
Taxes - Individual |
Limit deductions for charitable giving to 2% of
adjusted gross income. |
$219,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 6 |
|
| 171 |
Revenue |
Taxes - Individual |
Gradually eliminate the mortgage interest deduction
by 2024. |
$214,600,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 4 |
|
| 172 |
Revenue |
Taxes - Business |
Repeal the deduction for domestic production
activities (oil and gas) |
$163,100,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 23 |
|
| 173 |
Revenue |
Taxes |
Allow Medicare Part D to negotiation pharmaceutical
prices. |
$157,900,000,000 |
Economic Policy Institute, "The Peoples Budget:
A Technical Analysis" April, 2011 |
|
|
| 174 |
Revenue |
Taxes |
Replace the tax exclusion for interest income on
state and local bonds with a direct 15% subsidy to the issuer. |
$142,700,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 13 |
|
| 175 |
Revenue |
Taxes - Individual |
Raise the top three ordinary tax rates by 1%. |
$139,100,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1.6 |
(CBO's figures assume tax rates revert to pre-Bush
levels at end of 2012.) |
| 176 |
Revenue |
Taxes - Individual |
Eliminate the child tax credit. |
$116,700,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 14 |
|
| 177 |
Revenue |
Taxes - Individual |
Raise the top two ordinary tax rates by 1%. |
$115,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1.5 |
(CBO's figures assume tax rates revert to pre-Bush
levels at end of 2012.) |
| 178 |
Revenue |
Taxes - Business |
Tax foreign income of US corporations as it is
earned, not when repatriated to USA. |
$114,200,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 25 |
|
| 179 |
Revenue |
Taxes - Business |
Increase all corporate income tax rates by 1% |
$100,600,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 18 |
|
| 180 |
Revenue |
Social Security |
Expand social security coverage to newly hired state
and local government employees hired after December 31, 2011. |
$96,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 17 |
|
| 181 |
Revenue |
Taxes |
Use chained consumer price index (CPI-U) to adjust
tax brackets in the tax code. |
$86,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 3 |
|
| 182 |
Revenue |
Taxes - Individual |
Raise the top ordinary tax rate by 1%. |
$83,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 1.4 |
(CBO's figures assume tax rates revert to pre-Bush
levels at end of 2012.) |
| 183 |
Revenue |
Taxes - Business |
Exempt "active" dividends that U.S.
corporations earn from the business operations of their foreign subsidies or
foreign branches from U.S. taxation. All other foreign income would be taxed
as it is earned. Allow for foreign tax credits to offset any foreign income
that is still subject to U.S. taxation. No longer allow overhead expenses
allocated to foreign income to be deductible from U.S. income. |
$76,200,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 26 |
|
| 184 |
Revenue |
Financial Services |
Impose annual FEE of .15% on banks, thrifts,
brokers, security dealers and US holding companies with assets of more than
$50 billion. |
$70,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 33 |
|
| 185 |
Revenue |
Taxes - Business |
Repeal Last In, First Out (LIFO) accounting method. |
$70,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 20 |
|
| 186 |
Revenue |
Taxes - Business |
Fully eliminate the Volumetric Ethanol Excise Tax
Credit (VEETC) and fully repeal the tariff on imported ethanol. |
$60,000,000,000 |
Reuters "Senate vote marks start of end for
ethanol subsidies" June 16, 2011 |
|
|
| 187 |
Revenue |
Taxes - Business |
Increase excise taxes for all alcohol to $16 per
proof gallon (or 25 cents per ounce of alcohol), an increase from $13.50 per
proof gallon for spirits, 10 cents per ounce of alcohol for beer and 8 cents
per ounce of alcohol for wine. |
$59,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 29 |
|
| 188 |
Revenue |
Taxes - Business |
Eliminate the title passage rule and require
corporations to allocate income for the purpose of taxation on the basis of
where the economic activity actually occurs. |
$53,700,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 24 |
|
| 189 |
Revenue |
Taxes - Individual |
Raise tax rates on capital gains by 2%. |
$48,500,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 2 |
|
| 190 |
Revenue |
Taxes - Individual |
Eliminate tax preferences for education expenses
including the Hope Tax Credit, the Lifetime Learning tax credit. |
$47,700,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 15 |
|
| 191 |
Revenue |
Taxes - Individual |
Reduce limits on contributions to retirement plans
to $14,850 for 401(k) plans and $4500 for IRA's. |
$45,900,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 12 |
|
| 192 |
Revenue |
Taxes - Business |
Set the corporate income tax rate at 35% for all
corporations. |
$24,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 19 |
|
| 193 |
Revenue |
Taxes - Individual |
Tax "carried interest" as ordinary income
(impacts only Hedge Fund managers and treats their salaries like everyone
else) |
$21,400,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 10 |
|
| 194 |
Revenue |
Taxes - Business |
Eliminuate tax breaks and subsidies for oil
companies with assets of over $1 billion a year as proposed in the
"Close Big Oil Tax Loopholes Act". |
$21,000,000,000 |
Center for American Progress "Ending Big Oil's
Tax Holiday" May 17, 2011 |
|
|
| 195 |
Revenue |
Taxes - Business |
Replace the expensing of exploration and development
costs for oil, gas and minerals with the standard capitalization rules set in
Tax Reform Act of 1986. |
$10,000,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 21 |
|
| 196 |
Revenue |
Energy |
Open protected federal lands for oil and natural gas
production including; Arctic National Wildlife Refuge (ANWR), Outer
Continental Shelf (OCS), Gulf of Mexico, and Rocky Mountains. This would
generate $5b over 10 years in auction proceeds. |
$5,000,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 197 |
Revenue |
Taxes - Business |
Eliminate a tax loophole for corporate jet owners
that allows corporate jets to be depreciated over a five-year period rather
than the seven-year period required for commercial ones. |
$3,000,000,000 |
ABC News "Behind the Scenes of the Deficit
Negotiations: $400B in Tax Hikes, $1T in Spending Cuts" June 30, 2011 |
|
|
| 198 |
Revenue |
Taxes - Individual |
Increase excise taxes on motor fuels by 25 cents per
gallon. |
$291,000,000 |
CBO report "Reducing the Deficit: Spending and
Revenue Options" (Mar 11) |
Option 28 |
|
| 199 |
Revenue |
Taxes - Business |
Eliminate subsidies for wool and mohair producers. |
$40,000,000 |
FY 2012 Budget Alternative "Republican Study
Committee: Honest Solutions" |
|
|
| 200 |
Revenue |
Taxes - Individual |
Cut top income tax rate from 35% to 25% and
eliminate certain tax expenditures. |
No figure provided. |
FY 2012 Budget Resolution "The Path to
Prosperity: Restoring America's Promise." |
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