House Approves 2018 Budget, Paving The Way For Major Tax Reform

House Approves 2018 Budget, Paving The Way For Major Tax Reform

House Approves 2018 Budget, Paving The Way For Major Tax Reform

A similar bill won easy approval earlier Wednesday from the Senate Finance Committee, but that measure had no provisions to pay for the extension after the panel's leaders failed to reach agreement.

But Senate Republicans are opening the door to even deeper Medicaid cuts than in the health-care bills conceived over the spring and summer.

As expected in a tax plan that is estimated to provide $1 trillion in tax breaks for the rich, the benefits skew towards the wealthy.

The House cleared its budget on a 219-206 vote, with 18 Republicans joining 188 Democrats to vote no.

Sanders, an Independent from Vermont, is a proponent of Medicare for all in a single payer plan for healthcare. An analysis of the proposal by the Tax Policy Center found a net cost of $2.4 trillion over 10 years, inspiring some reformers to look for new sources of revenue (when they weren't simply rejecting the report outright or defending the virtues of deficit-driven tax cuts).

Philosophically, it is worth noting that eliminating the SALT deduction makes sense.

The House budget resolution says that a tax bill can not contribute to the deficit, while the Senate version allows $1.5 trillion to be added to the deficit over 10 years. It's also a clean break from the president, who has vowed not to touch Medicare.

The votes were called after long negotiations in both chambers over spending levels and the sizes of tax cuts.

That's especially so in the Senate, where the Budget Committee on Thursday gave party-line approval to a companion plan.

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Without changes to the increasing rate of government spending, we will not be able to keep these promises. The program covers 8.9 million low-income children, and a renewal of funds for it seems virtually inevitable.

Arrington said they're proposing to cut common-sense things.

Only 14% of Republicans say they have "a lot" of friends who are Democrats, and only 9% of Democrats say they have "a lot" of friends who are Republicans.

Passing a budget bill would let Republicans take advantage of special Senate budget rules that allow certain tax and spending measures to pass with 51 votes rather than the 60 votes necessary for most other legislation. These "instructions" could mandate committees to deliver spending cuts.

In the House, the budget plan is finally on the floor for a two-day debate that was delayed by conservatives demanding follow-on action on a $200 billion spending cut bill and details on the party's tax legislation.

"I believe, and the people on our side believe, that the budget being brought forth is one of the most unfair and destructive budgets ever proposed in the modern history of this country", said Sen. That could put some of these safety net programs on the chopping block. "It reforms Medicaid. It strengthens Medicare".

In the House, Republicans represent 23 districts carried by Clinton, just shy of what Democrats would need to win to take back the majority.

It's a priority the GOP hasn't been eager to surrender.

Furthermore, this budget also cuts up to five trillion dollars from other social safety net programs over the next 10 years. "I'm not asking the president to abandon his principles". (R-Nev.) - is in a state won by 2016 Democratic presidential nominee. He doesn't have to sign something. "You're never going to get a more sympathetic Republican than I am". People have cast those votes [on Medicare] before. That is not tax reform; that is crony capitalism wearing a Republican uniform. "Because this budget doesn't do almost enough to end the tax and spend status quo, fails to adequately protect Florida's seniors and will drive us deeper into debt, I had no choice but to vote no".

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