Republican leaders are planning to bring up a $260 billion measure to slash the budget gap and replace across-the-board spending cuts set to take effect in 2013.
The bill, known as a “reconciliation” proposal, is the product of six House committees and will be combined into one piece of legislation by the House Budget Committee. Democrats have already panned it as an extension of the House GOP proposal that “reflects the wrong priorities” by protecting tax cuts for the wealthy and cutting programs for the poor.
Democrats are ideologically opposed to any shrinking of amount of big government spending. As The Hill notes, as of today, Democrats "had not decided whether to offer its own complete proposal" on deficit reduction. Spoiler: don't hold your breath.
For every proposed cut in spending, Democrats find a new tax to put on the wealthy. In the Senate, both parties are fighting over a student loan extension. Democrats, of course, want to pay for the $6 billion cost with a tax on the wealthy.
Remember, House Republicans have passed long-term budget solutions, while Senate Democrats have not. They want to pay for America's long-term spending solely with increased taxes on the wealthy and have not passed a budget in over 1000 days.
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