The Republican controlled House of Representatives voted on the Paul Ryan budget today that will slash programs for seniors, low income families and the working poor by $5 trillion over the coming decade, while cutting tax rates for the rich. The final vote count, 219-205.
Ryan's plan includes $2.1 trillion over 10 years in health care subsidies and coverage under the Affordable Care Act; $732 billion in cuts to Medicaid and other health care programs; and almost $1 trillion in cuts to other benefit programs like food stamps, Pell Grants and farm subsidies.
The budget also calls for deep cuts to domestic programs like education, health research and grants to local governments that are funded each year through annual appropriations bills.
The Republican plan would also change the tax code by cutting the top rate from almost 40 percent to 25 percent for the wealthy.
Rep. Chris Van Hollen, (D-MD) warns that if Republicans were to ever take control of Congress, they would have "the power to do it”.
"It's totally out of touch with the priorities and values of the country," said Rep. Chris Van Hollen, D-Md. "This is a clear road map of what Republicans in Congress would do if they had the power to do it."
Republicans say the tough cuts they promise would strengthen the economy because less government borrowing would boost savings and investment. And they say it's simply unfair to saddle future generations with mountains of debt.
"The sooner we tackle these fiscal problems, the better off everybody is going to be, the faster the economy grows, and the more we can guarantee that the next generation inherits a debt-free future," said Ryan.
If the austerity cuts for 98 percent of Americans, along with the tax cuts for the wealthy sounds like a Republican broken record repeating, well, it is an election year, and as Rep. Chris Hollen said, if they ever get the power to do it, they will.
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