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House Passes $4.1T Budget Plan

October 05, 2017 10:57 AM

The House has passed a $4.1 trillion budget plan that promises deep cuts to social programs and Cabinet agency budgets, but whose chief purpose is to set the stage for a comprehensive GOP overhaul of the U.S. tax code later this year.

The measure won approval along party lines.

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RELATED: Trump, GOP Tax Plan Would Cut Rates for Many Americans

The plan calls for more than $5 trillion in spending cuts over the coming decade, including a plan to turn Medicare into a voucher-like program for future retirees, slash Medicaid, and repeal the "Obamacare" health law.

RELATED: $5 Trillion Question for Trump Tax Plan: How to Pay for It?

But Republicans are not actually planning to impose any of those cuts with follow-up legislation that would be required under Washington's Byzantine budget rules. Instead, the motivating force behind the budget measures is the Republicans' party-defining drive rewrite the tax code.


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The Associated Press

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