Congressman Alan Grayson (D-Orlando) introduced a landmark bill last night, called the “War Is Making You Poor Act”. The bipartisan bill does three things:
- It limits the amount of funding for the wars in Iraq and Afghanistan,
- It eliminates the federal income tax on the first $35,000 of every American’s income ($70,000 for married couples), and
- It cuts the Federal deficit by $15.9 billion.
Congressman Grayson said, “All three of those things need to be done. This bill brings them all together.”
The bill eliminates all federal income tax in 2011 for everyone making up to $35,000 a year ($70,000 for a married couple), which is approximately one-third of the population. For everyone, the first $35,000 that he or she earns each year ($70,000 for a married couple) is tax-free.
President Obama’s Fiscal Year 2011 budget requests $549 billion for the Defense Department, plus another $159 billion in “emergency spending” for the wars in Iraq and Afghanistan. Grayson’s bill requires the wars be funded out of the $549 billion for DoD. It uses the $159 billion to eliminate federal income taxes for one-third of all Americans, and to reduce the deficit.
The bipartisan Joint Committee on Taxation checked Grayson’s figures. It confirmed that the bill would, in fact, reduce the deficit by $15.9 billion, notwithstanding the deep cuts.
The four-page bill already has bipartisan support. The original cosponsors, who joined to support the bill even before it was filed, are Reps. Ron Paul (R-Texas) and Walter B. Jones (R-NC), as well as two committee chairs (Veterans’ Affairs Committee Chair Bob Filner and Judiciary Committee Chair John Conyers), plus peace proponents Dennis Kucinich (D-Ohio), Lynn Woolsey (D-CA), and Barbara Lee (D-CA).
During a compelling speech on the floor of the House last night, Congressman Grayson pointed out that the United States spends as much as the rest of the world combined on defense.
“Why is that necessary? If we are going to have that much military spending, do we really need another $159 billion for the wars on top of that? I think not, particularly when people in America are suffering,” Congressman Grayson said.
The War Is Making You Poor Act (H.R. 5353) does not necessitate an end to the wars or mandate a cut-off date. The bill simply requires the President to fund the wars from the $559 billion budget for defense spending in FY 2011. “There is no longer any need to go beyond the exorbitant base defense budget. It is not necessary. Enough is enough,” Congressman Grayson said.
