WASHINGTON, DC-Congresswoman Jackie Speier (D-CA)today released the following statement after voting against the Republican budget.

“The Republicans have dubbed their budget the ‘Path to Prosperity,’ but it is actually a dead end for our seniors. The guaranteed benefits they have come to depend on in retirement would be replaced by a voucher system. According to the nonpartisan Congressional Budget Office, seniors would pay $6,400 to $7,000 more per year than they would under the traditional program.

“Even worse, the Republican budget is a love letter to the rich and powerful. It keeps in place subsidies for oil companies and tax loopholes that reward corporations for shipping American jobs overseas. It barely makes a dent in our bloated Pentagon budget. And it gives additional tax cuts to millionaires and billionaires that do not need them.

“I am seriously committed to reducing the deficit. But that requires tough choices and shared sacrifice. The Republican budget—which is nothing more than trickle-down economics 2.0—has neither.

“I hope my Republican colleagues will abandon their plan to turn Medicare into Medican’t and join me in an effort to responsibly reduce the deficit.”