nail to provide tax base for the wealthiest americans and biggest corporations. you know, you are right. they use lots of angry rhetoric they call everyone else extreme. this is where truth and substance matters. if you look at the build a pass it s a very reasonable bill. the bill the house passed save $4.8 trillion over 10 years. that is a reasonable down payment we owe 30 to join us not try to solve it all but it is taking a reasonable step to solve it. how does it do it? the big thing it does is it reduces spending from current levels to what we were spending in december of 2022. in other words five months ago we divided white house says these are draconian cuts and read the world will end. i will ask you in december 2022 christmastide did you think suddenly the federal government had withered away? just reducing it to what it was five months ago and allowing it to 1% a year results in the
4.8 trillion that s me fiscal responsibility and i ll give the things i mentioned. now let s say is my final offer and you bring that deal back to your caucus, do you think you were to get a majority in your caucus to go along with this late minute deal after she would even talk to you for hundred days? sean, i believe that we could forget to get to a think of this the president said he was not gonna negotiate we were just gonna raise the debt ceiling. first of all we have just now been able to have a victory. the president can no longer say that. it s a know the debt ceiling will not get raised with no changes if we d a fundamental change will we get a cap on what were spending that shines valor saved it would change the trajectory we get work requirements that s the biggest welfare reform we ve had since bill clinton signed the bill. if were able to get savings were were spending less that be the biggest cut since ronald reagan.
let s watch. here we are on the brink of a biden default and i think we saw the helicopters going across here and i said he is leaving now to go to japan. i m like stop, stop. mr. president, cancel your trip to japan. stay at the table. america wants an american president focused on american problems. harris: what is your reaction, senator? it s irresponsible to raise the debt ceiling without any kind of spending reform. it is irresponsible of biden to continue to say he won t negotiate while he is doing that. irresponsible for him to leave the country with a job not done. the only reason we re facing a deadline he has for three months said he won t negotiate. he is negotiating now but he wasted three months. he is pushing it up against the deadline. the other thing people need to know, though, this is somewhat of a contrived controversy. the government brings in 4.8 trillion in taxes, the
after tax income would go up by 3.4%. $400,000 to $700,000, your after tax income would go up by 4.1%. everybody else, the bottom 80%, none of the bottom 80%, on average, would see their incomes go up by as much as 2%. these are highly regressive tax cuts that favor the rich that republicans want to extend as soon as they get enough control of congress and the white house to do it. what s your next chart? my next chart gets to the point you were making, joe, about the actual impact of what the republicans want to do on the deficit. if you start here, the limit save and grow plan, which is what is on the table right now in the white house, which, as we talked about last week, would cut 47% of spending from what we call discretionary programs, it d save $4.8 trillion. as you pointed out, we d give back $3.5 trillion.
you end up with a deficit reduction of only $1.3 trillion. steve, the $4.8 trillion, that s not a real number. they re talking about absolutely savaging the government, savaging the ability for the government to do the most basic of things. you look at what they want to do to the irs. yes, the irs. here s an agency that s been slashed, the funding for the irs has been slashed so much, that if you as a working class or middle class american have a tax refund coming, and you don t get it, good luck getting on the phone, getting the irs to answer. they don t have many people left to answer the phones. if you do, you re going to be waiting on the phone for hours and hours. if the irs messes up something and you need to talk to a live human being at the irs, good luck getting them on the phone. the softwareanequated.