US House Passes Ryan Amendment to Cut $6.2 Trillion Spending Bill
The US House passed the Ryan Amendment today by a 235-193 vote.
International Business Times reported:
The US House of Representatives has passed a budget plan for 2012 which seeks to reduce $6.2 trillion in spending by the government over the next decade.
Fiscal 2012 begins on October 1.
The bill passed the Republican-controlled House by 235-193 vote (only four Republicans failed to approve it; and not one Democrat passed it, according to Reuters).
Proposed by Republican Congressman Paul Ryan, the scheme would cut spending on social programs for the poor, for healthcare and would require the elderly to increase their healthcare cost burden.