The new House and Senate
Republican budgets make a big boast: They both balance the federal
budget within 10 years, without raising taxes.
Their own
numbers, however, say millions of American families and businesses would
have to pay more in taxes to make the math work — about $900 billion
more over the next decade.
Both
budgets also claim big savings by repealing President Barack Obama's
health law. But at the same time, they rely on more than $1 trillion in
tax revenue from the health law that would supposedly be repealed.
The
House and Senate are scheduled to take up their budget resolutions in
the coming days. These are nonbinding political documents that often
lack details, especially when it comes to taxes.
Nevertheless,
they provide important insight into how majority Republicans in
Congress would tackle the federal government's finances.
No comments:
Post a Comment