To Fund Tax Cuts for the Rich, Politicians Propose to Slash Pensions and Eliminate Pensions
July 24, 2017
Categories:
Benefits, The Insider
Politicians are reaching into the pockets of public servants, including law enforcement officers, to help fund tax cuts for the wealthiest of all Americans.
The House Budget Committee July 19 approved the 2018 budget plan and sent the bill to the full House with three proposed cuts to federal employees’ pensions:
- Eliminate defined benefit contributions, or pensions, for ALL newly hired federal employees.
- Reduce government contributions into current federal employees’ pensions by requiring employees to contribute more.
- Eliminate supplemental payments to employees who retire before age 62, such as law enforcement agents and firefighters. (The supplement was created because many law enforcement officers, due to the physical demands of their jobs, have to retire early before they become eligible for Social Security, which is part of their retirement package. The supplement bridges the gap)
According to the budget resolution – a budget blueprint telling the authorizing committees how much they can spend – the committees can decide what they want to cut, but they have to come up with at least $32 billion. There is no ceiling, so they could cut as much as they want.
'Shameful Way'
AFGE President J. David Cox Sr. calls slashing the civil servants’ retirement to fund tax cuts for the rich is “a shameful way to govern the country.”
“The budget is a slap in the face to all of the workers who care for our veterans, guard our borders, support our military, and keep our air and water clean,” Cox said. “Taking away retirement income from our law enforcement officers, many of whom are veterans, is particularly venomous.”
While federal employees played no role in the creation of the deficit, politicians time and again use “deficit reduction” as an excuse to scapegoat our public servants and line the pockets of millionaires and billionaires.
Rep. John Yarmuth, House Budget Committee ranking member, immediately issued a statement rejecting the resolution.
“Americans deserve a budget that prioritizes their families, their communities, and their securities,” Yarmuth said. “Unfortunately, “[this] budget fails them at every turn. It embraces the worst extremes of the Trump budget, sacrificing nearly every investment that helps American families get ahead in order to give huge tax breaks to millionaires and corporations.”
We can’t let this happen to us
Members of Congress should be working to protect the interests of ordinary Americans, not just the billionaires on Wall Street. This budget blueprint is another example of how our policy has been hijacked by special interests and their allies in Congress.
Call and tell your member of Congress to reject these immoral cuts. Your representative needs to hear from all of us, not just their wealthy, well-connected friends.
