Republicans Say Budget Will Just Bring More Taxes, Debt
WASHINGTON (AP) — As expected, Republicans in Congress aren’t welcoming the $4 trillion budget that was sent their way today by President Barack Obama.
House Speaker John Boehner says, “The president is advocating more spending, more taxes and more debt.” And he adds, “A proposal that never balances is not a serious plan for America’s fiscal future.”
Obama wants to boost taxes on higher-income Americans and on corporations. And he wants to get rid of tight federal spending caps, to send more money toward domestic and military programs.
The budget plan would provide middle-class tax relief. It would also fund an ambitious public works effort to rebuild aging roads and bridges.
The budget envisions a spending increase of 6.4 percent over the current year.
Republican leaders have said they will produce a budget this spring that will achieve balance within 10 years. They also say it will curb the explosive growth of government benefit programs, and reform the tax code, which is cluttered with loopholes.
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