Breaking: Senate Passes $4 Trillion Budget Plan – Key in Passing Trump’s Tax Plan
The Repubican senate passed a $4 trillion budget plan tonight. This is key in passing President Trump’s tax cut plan.
Senate votes 51-49 to approve GOP budget resolution that authorizes tax reform under budget reconciliation
— Jamie Dupree (@jamiedupree) October 20, 2017
The Republicans cut Medicare and Medicaid, something President Trump said he would not do.
Democrats will use this against stupid Republicans in 2018. That’s why Republicans are referred to the stupid party.
Several Republicans, after watching Obama stack up nearly $10 trillion in debt, are suddenly fiscally conservative now that President Trump is in office.
These Republicans may block tax cuts for American workers.
FOX News reported:
Senate Republicans narrowly passed their $4 trillion budget plan Thursday, taking their first big step toward a tax reform package promised by President Donald Trump.
Approval of the nonbinding plan allows the Senate to use a special process known as “budget reconciliation” that would forestall a Democratic filibuster.
“Tonight we completed the first step towards replacing our broken tax code by passing a comprehensive, fiscally responsible budget that will help put the federal government on a path to balance,” said Senate Majority Leader Mitch McConnell, R-Ky. “We have a once-in-a-generation opportunity to replace a failing tax code that holds Americans back with one that works for them.”
The Senate plan, approved on a 51-49 vote, calls for $473 billion in cuts from Medicare over 10 years and more than $1 trillion from Medicaid.
If fully implemented, the plan would cut spending by more than $5 trillion over the next 10 years, with an average of approximately $540 billion per year over the life of the plan, according to the Congressional Budget Office estimate.