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March 14, 2013

Senate committee approves Democratic budget plan

The Senate Budget Committee Thursday approved, 12-10, a 10 year Democratic budget plan that aims to slash the federal deficit by $1.85 trillion.

The Democratic-dominated committee's plan is expected to be debated by the full Senate last week.

It would raise about $1 trillion in new taxes while cutting an equal amount in anticipated spending. It would add back $100 billion for economic stimulus, in infrastructure, education and other programs.

Republicans spent the day Thursday trying to amend the package, but their efforts failed to derail the Democratic effort.

To read the plan: http://budget.senate.gov/democratic/index.cfm/documents---analyses?ContentRecord_id=6c4e2cfd-e7fe-414b-92b9-9e89b3cf92af&ContentType_id=94b7f973-e764-43ef-9365-d24d20a41170&Group_id=21c20bfa-d4fd-4bac-b73c-4808d6c5efe9

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