Ryan Plan to be approved by House Republicans
The United States House is set to pass the budget that would demand more spending cuts and amend the Medicare. This will mark the start of the next budget battle that would be the main focus of next year’s presidential election campaign.
The legislators just approved the budget that would cut $38.5 billion for the rest of the present fiscal year. Now the Republican-controlled House is setting up a new budget fight with the Democrats. The House is set to approve the Ryan Plan that would cut more than $6 trillion in the next ten years.
The Ryan plan would not make it pass the Senate but President Barack Obama has already tagged it as inappropriate and he hopes that the voters will see the cuts as excessive. He didn’t like the proposal to replace traditional Medicare program with vouchers to purchase private insurances for people under 55 years old.
The Ryan Plan depends on spending cuts to decrease the federal government’s budget deficit. He proposed to cut at least $6.2 trillion from Medicare and other government programs, such as Medicaid, farm subsidies, food stamps, and college tuition grants. The Republicans renew their call to repeal the health care reform law. They are also eyeing to peg the individual and top corporate tax rates at 25 percent.