WASHINGTON, April 10 – Sen. Bernie Sanders (I-Vt.) – chairman of the Senate Committee on Veterans’ Affairs, a member of the Senate Budget Committee and the founder of the Senate Defending Social Security Caucus – issued the following statement today on President Barack Obama’s proposed 2014 budget:
“While the president’s budget has some positive elements like an increase in the minimum wage and increased revenue from people who make more than $250,000 a year, it is a document which does not effectively address the economic crisis facing our nation.
“At a time when millions of working families are struggling economically, I am deeply disappointed that the president’s budget includes a chained consumer price index which would mean significant cuts for Social Security and veterans. It also would raise taxes on low- and middle-income Americans.
“For seniors, Obama’s proposal would mean that a 65-year-old retiree would lose more than $650 a year by their 75th birthday and $1,000 a year would be cut from their benefits once they reach 85.
“For disabled veterans, someone who started receiving V.A. benefits at age 30 would have their benefits reduced by $1,425 a year at age 45, $2,341 at age 55 and $3,231 at age 65.
“For taxpayers, the chained-CPI would increase taxes by $100 billion over the next decade and affect low-income and middle-class Americans the most. Americans making between $30,000 and $40,000 would receive the largest tax hike under the chained CPI.
“Lastly, at a time when real unemployment is 13.8 percent, the president’s budget does far too little to create the millions of jobs we desperately need. While he proposed $50 billion to rebuild our crumbling infrastructure, the truth is we need far more than that to improve our roads, bridges, railroad, water and wastewater systems.”