Warner & Kaine Tout Senate Budget Resolution
Today U.S. Senators Mark R. Warner and Tim Kaine, members of the Senate Budget Committee, released the following statement after Senate passage of the Fiscal Year (FY) 2022 budget resolution they cosponsored that will set the stage for historic legislation to lower costs and cut taxes for American families:
“As members of the Senate Budget Committee, we were thrilled to play a pivotal role in crafting a transformative budget blueprint to improve the lives of families in Virginia and across the nation for years to come. We believe this bill will not only help us recover from the impacts of COVID-19, but it will also help our economy rebuild even stronger than before. By investing in American families, we are investing in our nation’s future. As negotiations continue in the coming weeks, we will continue advocating for the needs of families across the Commonwealth.”
The FY2022 budget resolution proposes to extend the American Rescue Plan’s expansions of the Child Tax Credit (CTC), Earned Income Tax Credit, and Child and Dependent Care Tax Credits. The framework also includes affordable health care and childcare, expanded family and medical leave, universal pre-K, affordable higher education, affordable housing, green energy projects, climate resiliency, workforce development, and support for small businesses—all while cutting taxes for middle-class families. Following the passage of this resolution, Senate Committees will work on shaping the bill before final Senate passage.
FY2022 Budget Resolution Proposals Include:
Families:
- Establishes Universal Pre-K for 3 and 4 year olds and a new child care benefit for working families
- Makes Community College tuition-free for 2 years
- Extends the largest tax cut ever for families with children
- Increases the Pell Grant award and makes investments in Historically Black Colleges and Universities (HBCUs), Minority-Serving Institutions (MSIs), Hispanic-Serving Institutions (HSIs), Tribal Colleges and Universities (TCUs), and Alaskan Native- or Native Hawaiian-Serving Institutions (ANNHIs)
- Creates the first ever federal Paid Family and Medical Leave benefit
Infrastructure and Jobs:
- Invests in workforce development and job training programs to connect workers to good-paying jobs
- Invests in research and development and strengthens U.S. manufacturing supply chains
- Expands access to capital and markets for small businesses
- Makes the largest ever one-time investment in Native American infrastructure projects
- Rehabilitates aging Veterans Administration buildings and hospitals
- Makes historic investments in public housing, green and sustainable housing, and housing production and affordability
Health Care:
- Reduces prescription drug costs for patients and saves taxpayers hundreds of billions of dollars
- Adds a new Dental, Vision, and Hearing Benefit to the Medicare program
- Extends the recent expansion of the Affordable Care Act in the American Rescue Plan
- Invests in home and community-based services to help seniors, persons with disabilities and home care workers
- Creates a new federal health program for Americans in the “Medicaid gap,” helping more people get health coverage
Climate:
- Provides clean energy, manufacturing, and transportation tax incentives and grants
- Invests in climate smart agriculture and forest management for farmers and rural communities
- Creates coastal and ocean resiliency programs
- Makes investments to address droughts and wildfires
- Provides funding to create environmental justice and climate resilience programs
For more information on the resolution, click here. For text of the resolution, click here.
