Tags: House | pases | gop | budget

House Approves GOP Deficit-Cutting Budget

Thursday, 29 Mar 2012 03:43 PM

 

Republicans have pushed a $3.5 trillion, election-year budget through a divided House that showcases their plans for trimming federal deficits and contrasts sharply with how President Barack Obama and Democrats would tackle the nation's fiscal problems.

The GOP package would revamp Medicare, slice everything from food stamps to transportation and reject Obama's call for higher taxes on the rich. It envisions collapsing the six different income tax rates into just two, with a top rate of 25 percent compared with today's 35 percent. It would also eliminate unspecified tax breaks.

The House approved the measure Thursday by a near party-line 228-191 vote.

Obama and Democrats prefer raising taxes on the wealthiest Americans and on oil companies, boosting funds for roads and schools and culling modest savings from domestic programs.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Democrats Hoping to Vilify Kochs for $889M 2016 Warchest

Wednesday, 28 Jan 2015 07:34 AM

Democratic groups are planning to pounce on the announcement that the conservative Koch brothers have set aside nearly $ . . .

Facebook Agrees to Block Anti-Islam Images in Turkey

Wednesday, 28 Jan 2015 07:16 AM

Facebook has agreed to censor within Turkey images of Islam's prophet Muhammad that are considered to be insulting to th . . .

Republican 'Red' States Shoulder the Deepest Cuts Under Obama

Wednesday, 28 Jan 2015 07:10 AM

As Washington has tightened its belt in recent years, the budget cuts have sliced most deeply in states where President  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved