In March, the Senate passed a budget resolution. This blueprint for the fiscal year that begins in October represents an important step forward on an issue of great significance to American taxpayers: the need for balanced deficit reduction.
An important part of balanced deficit reduction is reducing the deficit without severely damaging important protections for and investments in American families. One way to do that is by ending unjustified tax loopholes and ending the damage they have inflicted on our budget. The budget summary released by Sen. Patty Murray of Washington, the chairman of the Senate Budget Committee, decried “the sheer magnitude of the revenue lost to off-shore tax abuse, wasteful and inefficient loopholes, and other business tax breaks.”