Proposed GOP Spending Plan Terminates Important Investments In Infrastructure, Education, Job Creation »

The Obama administration officially releases its fiscal year 2012 budget today, but the fate of government funding for the remainder of the 2011 fiscal year (which ends in October) is still up in the air. The House Appropriations committee last week released its initial plan to finish the fiscal year, which involved about $30 billion in cuts.

However, more conservative Republicans revolted, and House Appropriations Committee Chairman Hal Rogers (R-KY) was forced to go back to the drawing board for more cuts. His new productwould cut about $60 billion relative to the 2010 baseline (under which the government is currently operating), or about $100 billion compared to President Obama’s fiscal 2011 budget request (which was never enacted).

The GOP’s proposal includes a slew of cuts to important programs, agencies, and investments, and would be detrimental to job creation, education, and scientific research. But they also specifically zero out many programs, cutting their funding entirely, including:

– High speed rail investments ($5 billion)
– COPS Hiring (supporting local law enforcement) ($298 million)
– High School Graduation Initiative ($50 million)
– Weatherization assistance program ($210 million)
– National Park Service climate change monitoring and response ($4.5 million)
– Corporation for Public Broadcasting ($86 million)
– Green Jobs Innovation Fund ($40 million)

These are just a few choice selections. A more complete list of program terminations can be found below. And of course, the Republicans propose deep reductions to other programs that promote health, education, job training, and innovation, even while leaving them some sliver of funding.

The Republican proposal highlights, once again, how pound-foolish the GOP approach to budgeting is. As CAP economist Adam Hersh wrote, “If there is one point on which all economists can agree, it is that investment — in infrastructure, in research and innovation, and worker productivity — is the foundation for economic growth. Rep. Rogers’ plan robs the U.S. economy of all three.” And Republicans are promising even deeper spending cuts, with Rogers saying “this CR legislation will be the first of manyAppropriations bills this year that will significantly reduce federal spending.”