MADISON, Wis. — Today, President Donald Trump released his 2021 budget that will serve as a roadmap for his allies in Congress over the coming year, and into the future. President Trump’s proposal significantly slashes programs and services that support Wisconsin workers such as Social Security, Medicare, and Medicaid, while shifting these funds to help foot the bill for his tax cuts for the wealthy and well-connected.
The proposal cements this administration’s track record of tax cuts and giveaways for the wealthy. The president’s budget calls for an additional $1.4 trillion to extend the tax cuts for the wealthy to 2035, which nonpartisan economic experts agree will disproportionately benefit the wealthy.
Trump plans to pay for these tax cuts for the wealthy by continuing to slash safety net programs such as Social Security, Medicare, and Medicaid — today’s proposal outlines $2 trillion in cuts to these programs. Experts anticipate these cuts would lead to a reduction in both benefits and the number of people enrolled in the Medicaid program.
“Over the past three years we have seen the devastating impacts of President Trump’s economic agenda across Wisconsin,” said Kirk Bangstad, Opportunity Wisconsin Steering Committee member. “As a small business owner, I know that budgets are a reflection of your priorities and your values. This proposal from President Trump is no different, as it continues to demonstrate he does not value our friends and neighbors struggling to make ends meet, and instead prioritizes the same big businesses that have already wreaked havoc on workers across the Badger State.”
Under the 2017 tax law championed by President Trump and his allies, 1 in 4 Wisconsinites will ultimately see a tax increase. The tax law also drastically reduced the corporate income tax rate, providing a massive windfall for large corporations. Instead of the benefits trickling down to workers, companies like Wisconsin’s own Kimberly-Clark enriched their shareholders while laying off 74 workers in Neenah and shutting down a once profitable plant.
About Opportunity Wisconsin
Opportunity Wisconsin is a coalition of Wisconsin residents fighting for an economy that works for working people. Through our stories, we’re elevating the real consequences of the destructive economic policies championed by President Trump and his allies these past three years, and showing how they have made Wisconsin’s economy worse off. Join us in demanding our elected officials focus more on growing the economy for middle class folks and expanding opportunity for all Wisconsinites, not just the wealthy few. To learn more about Opportunity Wisconsin, visit OpportunityWisconsin.org or stay connected on Twitter at @OpportunityWI and on Facebook at Facebook.com/OpportunityWI.