Budget and spending measures at a glance
- Article by: The Associated Press
- Associated Press
- March 21, 2013 - 5:43 PM
Congress moved on several fronts Thursday advancing budget and spending measures for this year and beyond.
CATCHALL SPENDING BILL
Funds the day-to-day operating budget of Cabinet agencies through Sept. 30 but leaves in place across-the-board spending cuts of 5 percent to domestic agencies and 8 percent to the military. Eases a "readiness" crunch at the Pentagon, among myriad budget changes. Cleared the House for President Barack Obama's signature.
HOUSE BUDGET PLAN
Updated GOP budget for 2014 and beyond from Budget Committee Chairman Paul Ryan of Wisconsin. Nonbinding but sets out Republican vision for balancing the budget in 10 years, through $4.6 trillion in sharp cuts to safety-net programs like Medicaid and food stamps and domestic programs like education, agriculture and law enforcement. Proposes eliminating "Obamacare" health subsidies and leaves $1.2 trillion in automatic spending cuts in place. Passed House on 221-207 vote.
SENATE BUDGET PLAN
First Senate Democratic budget in four years. Nonbinding but proposes to increase taxes by $975 billion over 10 years and cut spending by $875 billion over the same period — yet uses $1.2 trillion of those anti-deficit steps to repeal automatic spending cuts required by Washington's failure to follow up 2011 budget and debt pact. Cuts deficit to below 3 percent of gross domestic product, producing annual deficits in the $400 billion-$500 billion range. Vote expected late Friday or early Saturday.
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