|By PR Newswire||
|September 12, 2012 05:45 PM EDT||
ALEXANDRIA, Va., Sept. 12, 2012 /PRNewswire-USNewswire/ -- The National Taxpayers Union Foundation (NTUF) has released candidate studies revealing the bottom line net cost of all the campaign proposals being made by the candidates in Virginia's U.S. Senate race. Former Governor Tim Kaine's plans would add an estimated $1.28 billion to the federal budget; and former Senator George Allen seeks to cut $97.74 billion.
NTUF Senior Policy Analyst Demian Brady said, "During campaigns it can be difficult to decipher the rhetoric and assess what a candidate will really do once in office, and what the end result will be for taxpayers – NTUF's studies can provide the answers."
Here are the major fiscal proposals from these candidates' agendas:
- Repeal "Obamacare." Allen's vow to repeal the Patient Protection and Affordable Care Act would save $64 billion in year one and $319 billion over five years.
- Roll back discretionary spending to 2008 levels. This equates to $26.2 billion in savings, year one.
- Spend $2.7 billion on veterans programs. Allen seeks a number of measures related to veterans including providing concurrent benefits, a cost of $13.5 billion over five years.
- Reform "No Child Left Behind." The largest cost of this proposal would be $500 million in federal cash for testing currently funded by the states.
- Create an Infrastructure Bank. The current iteration of this concept would cost $302 million in its first year and $1.51 billion over five years.
- Boost spending on Technical Education. Kaine seeks additional funding of $141 million annually for the Perkins Career and Technical Education Act.
Aside from $100 billion in contrasts, Kaine and Allen agree on one major cost saver: drilling for oil off the Virginia coast. Allen's broader energy plan would save an estimated $102 million through drilling expansion (including, but not limited to, Virginia). Kaine's plan only agrees on issuing new leases in Virginia.
For the study, NTUF gathered information from the campaigns and media coverage. Cost estimates for these items were verified against independent sources such as the Congressional Budget Office, and through NTUF's BillTally system, which since 1991 has tracked all spending bills in Congress.
NTUF is the research and educational arm of the 362,000-member National Taxpayers Union, a non-profit citizen group.
SOURCE National Taxpayers Union Foundation