Increases taxes on the wealthiest individuals and on corporations, including a one-time tax on corporate profits held overseas.
25% of G.D.P.
OBAMA’S
BUDGET
CURRENT
PROJECTIONS
Is this an increase or decrease?
An increase. Revenues in the budget are $3 trillion more (over 10 years) than the Congressional Budget Office projects and $2.1 trillion more than the White House projects (its baseline assumes that certain policies will continue).
What do Republicans want?
No tax increases. Republicans in Congress have called for an overhaul of the tax system and have resisted any increases by the president.
Is there room for compromise?
Not much. Representative Paul D. Ryan, the head of the Ways and Means Committee, has suggested that he could work with the president to expand the earned income tax credit program.
Cancels automatic cuts known as sequestration to domestic and military programs and increases spending over 10 years.
30% of G.D.P.
OBAMA’S
BUDGET
CURRENT
PROJECTIONS
Is this an increase or decrease?
An increase, depending on what you assume. If all current laws stay in place, the budget is an increase of $1 trillion over 10 years. The White House assumes that overall spending levels would be the same over 10 years without its budget.
What do Republicans want?
To cut spending. Republicans are opposed to new spending on the president’s domestic policy priorities in areas like immigration and education.
Is there room for compromise?
Some. There could be room for negotiation on the increases in defense spending, a priority for many Republicans. Replenishing the highway trust fund could also be an area for compromise.
Flattens out deficits around 2.5 percent of G.D.P. because of the increases in revenue.
15% of G.D.P.
CURRENT
PROJECTIONS
OBAMA’S BUDGET
Is this an increase or decrease?
A decrease. Under current policies, the deficit is expected to slowly increase beginning in 2018.
What do Republicans want?
A balanced budget. For the last several years, Republicans have put forth a budget that eventually eliminates the deficit altogether.
DEBT HELD BY THE PUBLIC
Flattens out the nation’s debt around 73 percent of G.D.P.
90% of G.D.P
CURRENT
PROJECTIONS
OBAMA’S
BUDGET
Is this an increase or decrease?
A decrease. Under current policies, the debt is expected to climb to 79 percent by 2025.
What do Republicans want?
To reduce the debt more. Republicans have sought to reduce the nation’s debt and have criticized the president for failing to address its long-time drivers like Medicare and Social Security.
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