Thursday, April 10, 2014

House approves Ryan plan to cut budget $5 trillion

The House approved a spending framework Thursday that would shave more than $5 trillion of expected spending, advancing Rep. Paul Ryan’s final budget proposal on a largely party-line vote.
The Wisconsin Republican, whose term as Budget Committee chairman expires later this year, offered a last fiscal framework that included his controversial overhaul of Medicare and other entitlement programs, while also advocating a reduction of top individual tax rates down to 25 percent. Democrats blasted the proposal as a “windfall tax break for millionaires”, as Rep. Chris Van Hollen (D-Md.) described it, and they vowed to make the 2014 midterm elections a referendum on Ryan’s proposals and its impact on the middle class.
The vote on Ryan’s budget, which followed the rejection of several other proposals, including Van Hollen’s, was 219 Republicans for the measure and 193 Democrats opposing it. Twelve Republicans voted against the Ryan measure, most of those believing that it was not conservative enough.
The debate was even more symbolic than most budget debates, as Ryan and his Senate Budget Committee counterpart, Sen. Patty Murray (D-Wash.), reached a two-year budget framework in December that is serving as the baseline for doling out federal funds in 2014 and 2015. Senate Democrats have announced they will not even hold the usual annual budget debate because of the Ryan-Murray agreement.

Ryan still put forward an austere proposal that built largely on his previous three proposals, calling his plan “a question of  trust” in the closing moments of the debate. “We trust the American people,” he said.

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