Senate Issues Its Own Budget Proposal
WASHINGTON, DC (WHNT) – We’ve got another budget proposal to debate – this one coming from the Democratically controlled Senate.
Tuesday, we walked you through the House proposal – Wednesday, the Senate’s counter comes out.
While the House focuses on balancing the budget in the next decade, the Senate plan sets its goal at reducing the deficit by $4 trillion over ten years.
The Senate proposal balances $975 billion of cuts to planned spending with $975 billion in additional tax money – generated by targeting the country’s wealthiest Americans and biggest corporations.
The Senate budget also calls for a full repeal of the sequester.
However, it does include $240 billion in cuts from planned defense spending.
It’s important to note that both the Senate and House budget proposals remain far apart – and the two would have to be consolidated to create a budget for the country going forward.