Bobby Scott: “Mr. Chairman, the Congressional Black Caucus alternative budget is committed to making America more secure by investing…”

“Mr. Chairman, the Congressional Black Caucus alternative budget is committed to making America more secure by investing in our homeland security, equipping our troops, and caring for our veterans. It also adds to our security by funding initiatives such as the COPS program, local law enforcement block grants, and juvenile crime prevention programs. The CBC alternative builds for America's future and addresses domestic challenges our country faces. It fully funds No Child Left Behind, provides funds for school construction, and increases funding for other education and job-training programs. The CBC alternative also provides funding for the minority health initiative, health insurance for the uninsured, supports child nutrition programs, funds job creation programs under the SBA, and extends unemployment insurance benefits. The funding for these important domestic needs comes from two sources: one, a reduction in the tax cuts from 2001 and 2003 for individuals whose gross income exceeds approximately $200,000; and the closing of tax loopholes, abusive shelters, and methods of tax avoidance. These funds total an estimated $35.5 billion in fiscal year 2005 and are used for the domestic spending and deficit reduction parts of the budget.”