It’s not everyday you see Americans for Tax Reform President Grover Norquist and U.S. Senator Bernie Sanders (I-VT) opposing the same policy. But President Obama’s budget has done just that.
Both Norquist and Sanders have issues with the proposed change to a chained CPI. This change would reduce federal payments to beneficiaries including veterans and those who collect Social Security. It would also cause the rare phenomenon of an “tax bracket creep“.
Sanders, who is Chairman of the Veterans’ Affairs Committee, has vehemently opposed the President’s budget, saying
I am terribly disappointed and will do everything in my power to block President Obama’s proposal to cut benefits for Social Security recipients through a chained consumer price index
Norquist and his group released a statement earlier this week claiming the chained CPI was nothing but a tax increase.
Chained CPI as a stand-alone measure (that is, not paired with tax relief of equal or greater size) is a tax increase and a Taxpayer Protection Pledge violation,” the group said in a blog post.
Anti-tax crusader Grover Norquist, leader of the organization, criticized the policy via Twitter on Wednesday. “Chained CPI is a very large tax hike over time,” Norquist wrote. “Hence Democrat interest in same.
Although the two oppose the budget for entirely different reasons, it has nonetheless, brought together two very polarizing figures as budget talks continue between the President and the legislative branch.
Chained CPI is estimated by Join TAx Committee to increase fed taxes by $100 billion over decade. Increasing over time.
— Grover Norquist (@GroverNorquist) April 11, 2013
I’m deeply disappointed that the president’s budget includes a #chainedCPI which would mean cuts for #SocialSecurity & #veterans.
— Bernie Sanders (@SenSanders) April 10, 2013