Friday, March 22, 2013
Democrats controlling the Senate appear on track to pass their first budget in four years, promising a second, almost $1 trillion round of tax increases on top of more than $600 billion in higher taxes on the wealthy enacted in January.
The nonbinding but politically symbolic measure would protect safety-net programs for the poor and popular domestic priorities like education, health research and federal law enforcement agencies. House Republicans seek cuts to those programs as part of a far more austere budget plan.
The Democratic budget caters to stalwarts on the liberal edge of the spectrum just as the House GOP measure is crafted to appeal to tea party lawmakers. The $1 trillion in new revenue would accrue over 10 years, coupled with a net $875 billion in spending cuts.