8/3/2019 Super Committee Alternative Plan

1/1

ALTERNATIVE DEBT PLAN RECOMMENDATIONS TO THE

JOINT SELECT COMMITTEE ON DEFICIT REDUCTIONS

Policy Assumption 2012 - 2021 Savings (Billions of Dolla

Limit highway funding to expected highway revenue (1)Eliminate intercity rail subsidies (including AMTRAK) (1)

Restrict Pell Grants to the neediest students (1)Reduce funding for the arts and humanities (1)Reduce National Institutes of Health funding to 2003 levels - last massive increase (1)Reduce adjustments for federal civilian employees' pay (1)Welfare Reform Act - caps welfare programs at 2007 (+inflation), when unemployment below 7.5% (5 & 7) 2,

*Medicaid (at 2007 levels, when unemployment below 7.5%, increase at health care inflation rate) [17*SCHIP (at 2007 levels, when unemployment below 7.5%, increase at health care inflation rate) [5*Supplemental Security Income (at 2007 levels, when unemployment below 7.5%, increase at inflation rate) [1

Reduce commodity payments through means testing recipients (3)Reduce federal program payment errors (3)Reduce federal contractors by 15% (8)Eliminate Office of Energy Efficiency and Renewable Energy (8)Reduce Deptartment of Housing and Urban Development's HOME partnership by 10% (3)Eliminate payment where earned income and child tax credit exceed tax liabilityStop Social Security payments to individuals making $1 million (2)Freeze the Department of Interior's land acquisition program for 10 years (8)Reduce Department of Education K-12 spending back to 2000 levels (5)Major government asset sales (5a)End foreign aid to countries with more than $10 billion in U.S. securities (8)Line-item veto authority(6)Reduce defense spending by $100 billion over 10 years (9a)

Reduce the federal workforce by 10% (2-for-3 replacement rate) (10)

Merge the Department of Commerce and Small Business Administration and reduce by 10% (10)

Terminate low-priority Corps constructions projects (10)

Reduce diplomatic and consular program overhead costs (10)Ban government-contracted union projects

Reduce federal travel (2)

Repeal Davis-Bacon prevailing wages

Slow the growth of foreign aid (10)

Rescind unobligated balances after 36 months (5)

Reduce the voluntary contributions to the United Nations (10)

Potential net interest saving (at $4 trillion in savings)Adopt Senate Republican Jobs Plan comprehensive tax reform

Total Savings: 5,

(1): CBO Options: Reducing the Deficit - spending and revenue options

(2): Senator Rand Paul Budget(3): FY2012 President Obama Budget

(4): August 2011 CBO Budget and Economic Outlook(5): Heritage Foundation - Saving the American Dream

(5a): Includes sale of federal properties, real estate, mineral rights, the electromagnetic spectrum, and energy-generation facilities.

(6): Senator John McCain S.102(7): Senator Jim DeMint - See Welfare Reform Act

(8): Senator Tom Coburn proposal

(9): Joint Select Committee on Deficit Reduction ("Super Committee")(10): President Obamas Fiscal Commission