The House Budget Committee released its budget plan on Thursday night, one that would slash spending and increase the debt by $1.5 trillion over 10 years, including $1 trillion for Medicare and Medicaid over the next decade.
The plan, which also would slash federal spending and raise taxes, also includes deep cuts to social programs like food stamps, unemployment insurance and Medicaid.
“It is a big deal for the American people, especially the middle class, to have a $1,600-a-year income tax cut, while at the same time cutting Social Security and Medicare,” House Budget Chairman Tom Price told reporters Thursday night.
“The Senate plan is a disaster for America, especially in the face of the economic and health crisis that we’re facing right now.”
The Senate budget would add $3.9 trillion to the debt over the decade and add $1-trillion to the deficit, according to the Joint Committee on Taxation.
The Senate budget includes the largest cuts to federal spending, tax breaks and entitlement programs in the country’s history, which is likely to lead to more cuts for the poor and working class.
A majority of Republicans voted for the plan, while more than half of Democrats voted against it.
The budget is the first major budget proposal to be released since President Donald Trump took office, and it is likely that Republicans will not get much of a chance to put the plan to a vote in the Senate, with only two Republicans voting against it and one Democratic voting for it.
Republicans have argued that the Senate plan does not add enough to the nation’s debt, and that they would be able to pass it through budget reconciliation if it were to pass the House.
However, the Senate’s plan would add nearly $3 trillion to Social Security, Medicare and other programs that currently receive large amounts of revenue, and $2.9 billion in new spending on infrastructure, according the Tax Policy Center.
It is the third time in 10 years that the House has voted to cut spending.
In the past, lawmakers have voted to increase spending through budget resolution, which was the last option for the budget process.
This time, lawmakers were more focused on the $1 billion cut to Medicaid, which has more than $600 billion in funding but which Republicans have said will have to be cut, and the $2 billion cut in the Supplemental Nutrition Assistance Program, which provides food stamps and other benefits to low-income people.
“This is not about cutting Social and Medicare benefits,” House Speaker Paul Ryan told reporters after the vote.
“This is about cutting Medicaid and food stamps.”
Price argued that Republicans would be more likely to support the Senate budget plan if it included deep cuts in social programs and that there were still enough savings to offset the cost of the plan.
“These are all very big deals,” Price said.
“The middle class is going to see significant increases in taxes, especially on the wealthy, because we’re going to cut them and we’re also going to have to reduce the deficit and we’ve got to cut the debt.
We’re going not only to get our deficit under control, we’re not only going to get tax revenue under control.”
Ryan said he will push for a vote on the budget in the House on Monday, and Price said he expects to get bipartisan support.
“There are plenty of Republicans who have the votes, the votes to pass a budget.
There are also plenty of Democrats who are willing to vote for a budget, which will give us the votes,” Price told The Hill.”
But it’s going to be tough, because this is a fight for the soul of the American middle class.
If we don’t get the support, it’s a disaster.”
Democrats, who have a majority in the chamber, are pushing for the Senate to act quickly and pass the budget.
Senate Majority Leader Chuck Schumer and Minority Leader Chuck Brown said in a statement Thursday that they are “disappointed that Republicans have chosen to leave the budget plan unchanged.”
While we understand the urgency of the debt-ceiling crisis, we remain committed to bringing down our country’s debt to the lowest levels in our history and will continue to work to bring our country back to the economic recovery that our country needs.””
It’s a shame that the GOP would rather gut the safety net than make a real commitment to bringing America back to full recovery,” Brown added.