“House Democrats on Monday night introduced their 2013 budget plan to compete with the Republicans’ proposal on the chamber floor this week.
Sponsored by Rep. Chris Van Hollen (Md.), senior Democrat on the House Budget Committee, the $3.6 trillion proposal is not expected to pass, but nonetheless provides the Democrats with a comprehensive plan from which to distinguish their policy priorities from those of Republicans this election year.
The proposal adopts much of President Obama’s job-creation agenda, including tens of billions of dollars for near-term stimulus spending on infrastructure and other federal programs, while keeping Medicare and other entitlement benefits largely intact. The budget adds $6 trillion to deficits over 10 years, compared to $6.4 trillion for the president. It contains $643 billion less in spending, and $219 billion less in revenue.
Van Hollen said his proposal “stands in clear contrast” to the GOP bill, which the Democrats have attacked as a giveaway to the wealthy at the expense of seniors and the middle class.
“This budget will reduce the deficit in a balanced and credible way, making difficult choices while providing investments that help create jobs now and build an even stronger economy for the future,” Van Hollen said in a statement. “But unlike the Republican budget — which ends the Medicare guarantee while providing tax breaks to millionaires — we ask the very wealthy and special interests to share responsibility for reducing the deficit.”
If you enjoy the content at iBankCoin, please follow us on Twitter
