And now, the Senate Democrats' budget proposal — as revealed earlier today — in charts. It is … less detailed than the 91-page Republican House budget announced by Paul Ryan this morning, mostly because it's only intended to steal Ryan's thunder.
Sam Stein at the Huffington Post explains what Senate Budget Committee Chair Patty Murray outlined:
Her proposal calls for $975 billion in additional revenues through closing loopholes and ending tax expenditures. … [I]t calls for the continuation of current tax rates for middle and lower class Americans but does not specify whether current rates should be protected for high-end earners. …
On the spending side, Murray's budget looks for $493 billion in domestic cuts, $275 billion of which will come from health care savings. The aide said that those health care savings, which will also be determined by the Finance Committee, would be felt solely on the provider side and not among beneficiaries. Additionally, the budget calls for $240 billion in defense spending cuts and $242 billion in reduced interest payments.
So the breakdown of tax increases versus spending reductions looks like this.
The combination yields $1.95 trillion in deficit reduction, but Murray's plan also calls for $100 billion in new stimulus spending, bringing the total reduction to $1.85 trillion.
Breaking out the cuts by area:
It's worth noting that the largest piece of that pie, healthcare costs reductions, will be figured out later, apparently.
And, inspired by the Washington Post, here's a comparison of the Democratic and Republican plans.
This is what is known as politics as an attempt to "step on" your opponent's news cycle. Murray almost certainly released this data — incomplete, unspecific, apparently as part of an internally circulated 3-page memo — in the hopes that it would redirect a little of the media attention Paul Ryan is getting for his plan in another direction. Well, it worked; we're looking.
But, Sen. Murray — are you sure this is what you wanted us to see?
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