Senate Dems offer a budget with a 10-year fiscal vision
By USA Today
Published: Wednesday, March 13, 2013, 7:21 p.m.
WASHINGTON — Senate Democrats released a budget resolution on Wednesday for a 10-year fiscal vision that would trim the deficit and protect entitlement programs. It calls for more spending for roads and schools and for higher taxes on corporations and wealthy Americans to protect middle-class earners.
The budget — the first one Senate Democrats have produced since 2009 — stands in sharp contrast to the House Republicans' plan released on Tuesday that calls for cuts in corporate and individual taxes and aims to balance the budget in 10 years, fundamentally overhaul Medicare and eliminate President Obama's health care law.
“The American people are going to have an opportunity to examine these budgets side by side,” said Senate Budget Committee Chairwoman Patty Murray, D-Wash. “They are going to be able to decide which approach is best for our economy, best for jobs and best for the middle class.”
The House and Senate are scheduled to vote on the competing budgets next week in their respective chambers. Both are likely to pass on party-line votes.
The two chambers are not likely to be able to reconcile their competing blueprints, but they serve as philosophical touchstones in the battles between the president and Congress on deficit reduction, federal spending, entitlements and increasing the debt ceiling.
Murray's blueprint calls for fully replacing the sequester — $1.2 trillion in automatic spending cuts over 10 years that kicked in March 1 — with a 50/50 combination of spending cuts and new revenue.
The plan aims to reduce the deficit to below 3 percent of GDP by 2015 and keeping it below that level through the 10-year budget window.
It includes $975 billion in spending cuts, including $275 billion from health care programs Medicare and Medicaid, $240 billion from defense and $242 billion in estimated savings on interest payments, as well as $975 billion in new revenue from closing tax loopholes and eliminating tax expenditures that benefit the wealthy. It does not call for raising individual tax rates.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Longtime intel adviser resigns as feds learn of link to China tech company
- Snowstorm silences north Texas
- Dems to overlook probe of nominee
- Justices to hear critical software case
- Beer black market exploits enthusiasts, ignores law
- Ex-prof hopes to save art for Detroit
- Pearl Harbor survivor keeps story alive
- Wind-power companies won’t face federal prosecution in eagle deaths
- Monitor ends bid to force chemo on Ohio girl
- Measure happiness, U.S. told
- Navy deems drone launch from submarine success