Committee for a Responsible Federal Budget

Tracker Updated With Two Plans From Last Week

Oct 20, 2011

We have updated our tracker of recommendations to the Super Committee with two plans that came out last Wednesday.

The first is by the Congressional Black Caucus, who sent a letter endorsing their alternative FY 2012 budget that came out in April. That budget relies mostly on revenue increases for deficit reduction: slapping a 5.4 percent surtax on millionaires, taxing capital gains as ordinary income, and enacting a financial speculation tax. There are also a number of base-broadening measures, and the inclusion of a public option in the health insurance exchanges. Additionally, they include a number of discretionary spending increases (relative to the President's FY 2012 budget) that total about $520 billion over ten years. The total amount of deficit reduction is $3.4 trillion relative to the President's budget (it's not clear how much it would be relative to current policy).

The second comes from Sen. Tom Carper (D-DE) representing the Federal Financial Management Subcommittee. The letter includes six different pieces of legislation that Sen. Carper has offered to address issues in the Subcommittee's jurisdiction. Specifically, these proposals involve reforming the Postal Service, reducing the tax gap, increasing Medicare and Medicaid program integrity efforts, reducing improper payments, and improving federal property and technology management. These recommendations are more targeted towards increasing government efficiency than significantly reducing the deficit.

Committee/Organization/Individual Date Ten-Year Savings
Center for American Progress (CRFB Overview) 9/6 $1.5 trillion

Senate Subcommittee on Oversight of Government Management, the Federal Workforce, and the District of Columbia (Minority) (CRFB Overview)

9/15 $1.4 trillion

U.S. PIRG/National Taxpayers Union (CRFB Overview)

9/15 $1 trillion
Third Way (CRFB Overview) 9/15 $1.7 trillion
Taxpayers for Common Sense (CRFB Overview) 9/16 $1.7 trillion

President Obama (CRFB Overview)

9/19 $1.9 trillion
Sens. McCain, Carper, Coats, and Udall 9/20 N/A
Sen. Coburn  9/21 $300 billion
Rep. Coffman (CRFB Overview) 9/23 $103 billion
Center for Science in the Public Interest (CRFB Overview)    9/27 $200 billion

Sens. Coburn and Lieberman (CRFB Overview)

9/28 >$500 billion
99 Medical Assocations (CRFB Overview) 10/3 $62 billion

78 House Democrats (Medicare) (CRFB Overview)

10/5 $156 billion
65 House Democrats (Nuclear Arsenal) (CRFB Overview) 10/11 $200 billion
House Judiciary Committee (Majority) (CRFB Overview) 10/12 $57 billion
Federal Financial Management Subcommittee (CRFB Overview) 10/12 N/A
Congressional Black Caucus (CRFB Overview) 10/12 $3.4 trillion
House Democratic Caucus (CRFB Overview) 10/13 N/A
EPI/The Century Foundation (CRFB Overview) 10/13 $4.7 trillion
Senate Small Business Committee (Minority) (CRFB Overview) 10/13 N/A
Senate Armed Services Committee (Majority) (CRFB Overview) 10/14 <$2 billion
Senate Armed Services Committee (Minority) (CRFB Overview) 10/14 N/A
Senate Budget Committee (Bipartisan) (CRFB Overview) 10/14 N/A
Senate Commerce, Science, and Transportation (Bipartisan) (CRFB Overview) 10/14 $7 billion
Senate Finance Committee (Minority) (CRFB Overview) 10/14 N/A
House Financial Services Committee (Majority) (CRFB Overview) 10/14 N/A
House Homeland Security Committee (Majority) (CRFB Overview) 10/14 $8 billion
Senate Homeland Security Committee (Bipartisan) (CRFB Overview) 10/14 N/A
House Science Committee (Majority) (CRFB Overview) 10/14 N/A
Senate Subcommittee on Oversight of Government Management, the Federal Workforce, and the District of Columbia (Majority) (CRFB Overview) 10/14 N/A
Congressional Progressive Caucus (CRFB Overview) 10/14 $3.9 trillion
38 House Democrats (Fossil Fuel Subsidies) (CRFB Overview) 10/14 $122 billion
14 Senate Democrats (Oil Subsidies) (CRFB Overview) 10/18 $21 billion