The caucus' Deal for All, resolution, H. Res 733 advocates four key policies that have built the middle class, expanded the nation's economy and play, according to progressives, a significant role in any future budget negotiation:
(1) No cuts to Medicare, Medicaid, or Social Security benefits;
(2) Serious revenue increases, including closing corporate tax loopholes and increasing individual income tax rates for the highest earners;
(3) Significantly reduce defense spending to focus the United States Armed Forces on combating 21st century risks; and
(4) Promote economic growth and expand economic opportunity by including strong levels of job-creating Federal investments in areas such as infrastructure and education, and by promoting private investment."
"Congress is gearing up for high-stakes tax and budget negotiations, and we're standing with working families to make sure we build a stronger and fairer economy," Progressive Caucus Co-Chairs Rep. Ellison and Rep. Grijalva said. "While both parties will need to make sacrifices, we cannot do so at the expense of economic growth or the middle class. A balanced approach like the Deal for All would end tax breaks for the richest 2 percent, close tax loopholes for the wealthy and special interests, and ensure Americans don't lose the benefits they've paid into for decades such as Social Security and Medicare.
"Republicans have relied on excessive tax breaks for the wealthy and corporations and cut the very programs that helped create a thriving middle class. At the same time, just this week, the Republican House majority is opposing common-sense budget cuts to protect a bloated defense budget and maintain a Cold War approach. This discredited approach of trickle-down economics, combined with the GOP's refusal to govern during this session of Congress, has created the impending year-end fiscal cliff. We will not allow the GOP to push the middle class over that cliff.
"By pursuing a fair tax policy, effective job creation strategies, and sensible defense spending based on twenty-first threats, we will be able to steer the American people to a bright and prosperous future," the legislators said. "By pursuing a fair tax policy, effective job creation strategies, and sensible defense spending based on twenty-first threats, we will be able to steer the American people to a bright and prosperous future," the legislators said.