Senate unveils budget resolution, roadmap to enact tax reform

REICH Whatever happened to the deficit hawks

Under the fast-track process, the GOP-controlled Senate could pass the proposal with no Democratic votes.

Two more Navy officials fired over ship collisions Senate passes 0B defense bill Dems fear lasting damage from Clinton-Sanders fight MORE (I-Vt.), the ranking member of the Budget Committee, attacked the Republican-penned 2018 budget resolution released Friday as a scheme to benefit the wealthy at the expense of the poor.

The budget also contains a provision that could allow the Senate to approve legislation opening up drilling in the Arctic National Wildlife Refuge.

"A pro-growth tax plan will move the US economy forward, and help to produce better jobs and bigger paychecks for every American". Unlike the initial Republican budget proposal in the House and a draft by the Trump administration, both of which call for a large increase in defense spending, the Senate budget resolution would keep defense spending flat over the coming decade.

Speaker of the House Paul Ryan will speak at a pipe-fitting factory in Delaware County Thursday afternoon to plug his party's tax overhaul plan.

The resolution employs a parliamentary tactic known as reconciliation, which enables certain budget-related legislation to pass the Senate without being subject to the 60-vote filibuster threshold that other bills must meet.


The plan would double the standard deduction, condense personal income taxes from seven brackets to three: 12 percent, 25 percent, and 35 percent.

The Republican budget plan would pay for the tax cuts through increased economic growth and cuts to non-defense discretionary spending.

The Senate majority leader, Mitch McConnell of Kentucky, said that without the budget resolution, Democrats would "continue to play partisan politics and obstruct our efforts to get our economy flourishing and growing at its full potential".

That decision essentially punts health care down the road until the next budget season, around April, when they can again try to pass it under the special reconciliation rules.

The Senate committee plans to hold a vote next week, with it possibly heading to the floor in the next few weeks. Balance by 2026 is achieved by assuming $1.2 trillion in economic growth, in part due to the tax cuts.

The new budget plan would permit the upcoming tax measure to add $1.5 trillion over the coming decade to the $20 trillion national debt. Enzi claims to achieve a $197 billion surplus in 2027.

Related:

Comments

Latest news

More than 3800 face gang charges across 4 countries
The U.S. attorney's office in MA said in an email that Manica Flores is in El Salvador and the office "anticipates seeking extradition".

EU Brexit chief laments slow progress but hails new dynamic
Dutch Prime Minister Mark Rutte said both sides would need "a small miracle" to make the required progress before the summit.

Hugh Hefner's Daughter and Sons Dine Together a Night After His Death
It isn't clear if Hefner gave Harris any money before his death, but she will not inherit anything now that he's gone. In 1961, Hefner hired Dick Gregory in a time where black artists struggled to find success in the media.

Phillies get another look at Alvarez vs. Mets
The Phillies are 38-36 against their own division with two games left and 27-59 against the rest of Major League Baseball. Collins originally planned to send his most consistent starter, Jacob deGrom (15-10, 3.53 ERA), to the mound on Saturday.

Miami WR Dayall Harris Suspended For 3 Games
If Feagles sounds familiar, that's because Zach's dad Jeff was a punter in the National Football League from 1988 to 2009. Need More winners against the spread? It is the fifth time Richards has topped 100 yards receiving in his college career.

Other news