Dold, Schneider Join Budget Debate

After joining a failed bipartisan effort to adopt a broad approach to rein in the country’s financial condition Wednesday, voted for the Republican House budget proposed by Thursday.

Dold’s decision to go along with the House Republican majority after the initial idea did not get much support from either party drew criticism from Deerfield management consultant in the Nov. 6 general election.

Dold joined a group of Democrats and Republicans to introduce a proposed budget for the next fiscal year based on recommendations two years ago by President Barack Obama’s deficit reduction commission, known as the Simpson-Bowles Commission.

The latest rendition of a bipartisan approach to the budget, know as Cooper-LaTourette, lost, 382-38.

“I support the Cooper-LaTourette budget because my constituents are crying out for us to find common ground and advance solutions on a bipartisan basis,” Dold said. “I was pleased to work with some of the Democrats on this serious proposal that puts everything on the table for discussion.”

The idea coupled spending cuts and entitlement reforms with changes to the tax structure.

Schneider called Dold’s decision to back the House Republican plan, which passed with a 228-191 vote, “unfortunate” because of its treatment of Medicare and the undue burden it places on middle class and older Americans.

“We should not balance the budget on the backs of families and seniors who can afford it the least, especially while we keep giving out tax breaks to those who simply do not need them,” Schneider said.

Schneider would begin by ending favorable tax treatment for companies which transfer jobs outside the country, reduce subsidies to oil companies and eliminate military spending already approved by Defense Secretary Leon Panetta.

“I know with smart policy decisions, we can cut spending and balance the budget in common sense ways that protect the middle class,” Schneider said. “We have an obligation to our children to get our deficit under control as well as a duty to our seniors to protect Medicare.”

Recognizing the House leaves Medicare intact for those 55 and over, Dold joined his fellow Republicans voting for the proposal because it helps contain the country’s debt.

“I voted to support the Republican budget proposal because this blueprint provides a clear vision of what this country needs to do to get our skyrocketing debt and deficits under control and put us back on a path to prosperity,” Dold said. “I appreciate the importance of both looking at the big picture and the pragmatic need to find a way to get things done.”