publication date: Mar. 27, 2015

Republican Budgets Propose $5 Trillion Cut, On Top of Sequestration, Through 2025

 

The Senate passed its 2016 budget early Friday morning in a marathon voting session—an event called “vote-a-rama” in Washington-speak—that split along party lines with a 52-46 Republican margin.

The Senate budget resolution would slash $5.1 trillion in federal spending over the next decade, mirroring the resolution passed by the House 228 to 199 March 25, which would cut spending by $5.5 trillion over the next nine years.

Both budgets agree on keeping sequestration cuts in place, and on repealing the Affordable Care Act.

Over the next month, lawmakers would have to negotiate a joint resolution, which would require the Senate and House to reconcile their contradictory plans for Medicare.

The Senate budget supports the White House request to find $430 billion in savings for Medicare; the House resolution proposes partial privatization of Medicare by converting it into a premium support system.

In summary, the Senate budget would cut $4.3 trillion in mandatory spending and $97 billion from discretionary programs.

The 10-year spending plans for both budgets call for even deeper cuts to non-defense domestic programs than was agreed to in the 2011 Budget Control Act, said Jon Retzlaff, managing director of science policy and government affairs at the American Association for Cancer Research.

“We are extremely concerned about both the House and Senate budget resolutions, which would make things exceeding difficult for the appropriators on Capitol Hill to provide budget increases in FY 2016 and beyond for our nation’s national priorities, including the life-saving cancer research and biomedical science supported … Continue reading 41-12 Republican Budgets Propose $5 Trillion Cut, On Top of Sequestration, Through 2025

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