Budget plans put forth by Senate Democrats and House Republicans are as distinct as the parties themselves in their approach to advancing the economy.
Rep. Paul Ryan (R-Wis.) led the design of the GOP's budget proposal, which would balance the federal budget in 10 years with $4.6 trillion in spending cuts through 2023. Much of that includes repealing funding for key features of the health law, including the health insurance exchanges and Medicaid expansion funding. It would also privatize Medicare using federal subsidies and terminate financial regulatory laws implemented during the Obama administration, according to a report by the New York Times.
On the other side of the aisle, Democrats are shooting for a $100 billion economic stimulus initiative for job training and infrastructure projects, paid for by closing tax loopholes amounting to nearly $1 trillion in added revenue. At the same time, they would cut an additional $1 trillion from federal spending, with about $250 billion coming from cuts to defense. Dems have defended federal entitlements like Medicare and Medicaid and voiced concern to President Obama, who has shown he's willing to put changes to such programs on the table with Republicans.
98% of Health Plans Don't Meet Essential Health Benefits Requirement, Study Says
Paul Ryan's Budget Would Repeal PPACA, Cut Medicaid
Rep. Paul Ryan (R-Wis.) led the design of the GOP's budget proposal, which would balance the federal budget in 10 years with $4.6 trillion in spending cuts through 2023. Much of that includes repealing funding for key features of the health law, including the health insurance exchanges and Medicaid expansion funding. It would also privatize Medicare using federal subsidies and terminate financial regulatory laws implemented during the Obama administration, according to a report by the New York Times.
On the other side of the aisle, Democrats are shooting for a $100 billion economic stimulus initiative for job training and infrastructure projects, paid for by closing tax loopholes amounting to nearly $1 trillion in added revenue. At the same time, they would cut an additional $1 trillion from federal spending, with about $250 billion coming from cuts to defense. Dems have defended federal entitlements like Medicare and Medicaid and voiced concern to President Obama, who has shown he's willing to put changes to such programs on the table with Republicans.
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Paul Ryan's Budget Would Repeal PPACA, Cut Medicaid