Senate panel OKs budget plan minus some of Bush's initiatives
THE ASSOCIATED PRESS
WASHINGTON
A Senate panel approved yesterday a scaled-back version of President Bush's budget, shorn of such signature initiatives as tax relief and cuts to federal benefit programs such as Medicare...
Sen. Judd Gregg, R-N.H., the chairman of the Budget Committee, dropped Bush's proposals for expanding tax-free medical accounts and restraining Medicare spending. He also wants to shift about $5 billion from the Pentagon and foreign-aid budgets to cash-strapped domestic programs such as education and homeland security...
Bush's tax cuts generally will expire in 2010. Gregg's budget assumes that extending them would cost $154 billion the next year.
If they were allowed to expire, the 2011 deficit would be just $23 billion, assuming that the rest of Gregg's plan was to be adopted.
WASHINGTON
A Senate panel approved yesterday a scaled-back version of President Bush's budget, shorn of such signature initiatives as tax relief and cuts to federal benefit programs such as Medicare...
Sen. Judd Gregg, R-N.H., the chairman of the Budget Committee, dropped Bush's proposals for expanding tax-free medical accounts and restraining Medicare spending. He also wants to shift about $5 billion from the Pentagon and foreign-aid budgets to cash-strapped domestic programs such as education and homeland security...
Bush's tax cuts generally will expire in 2010. Gregg's budget assumes that extending them would cost $154 billion the next year.
If they were allowed to expire, the 2011 deficit would be just $23 billion, assuming that the rest of Gregg's plan was to be adopted.
posted by Andy W. Rogers | 8:59 PM
0 Comments:
Post a Comment
<< Home