GOP, GOP Congress pass budget bill with big spending cuts

In the House, the GOP budget bill includes $1.8 trillion in tax cuts over 10 years, a tax cut for millionaires, and $1 trillion in spending cuts.

The bill is also $1,000 more than the Democratic budget plan, but it doesn’t add to the deficit or raise taxes.

In the Senate, the Republican budget plan would add $1tn to the debt.

The GOP budget plan includes $9 trillion in cuts in the Department of Defense, $1trillion in the Energy Department, $4trillion more in the Agriculture Department, and nearly $3trillion for other federal agencies.

The Republican plan also includes $500 billion in cuts to Medicaid, the health insurance program for low-income Americans, and a $200 billion increase in the retirement age. 

The House GOP plan also cuts the corporate tax rate from 35% to 20%, a measure that has been widely criticized for being too high.

The House GOP budget also includes nearly $1 billion for new research funding to help states reduce costs.

The Senate Republican plan does not include the $1bn in funding that was included in the House budget, but includes $400 billion for a “clean energy and energy efficiency” stimulus, which would fund research and development of green technologies and a new tax credit for energy efficiency. 

In addition to the tax cuts, the Senate Republican budget also extends Bush-era tax cuts for individuals earning $250,000 and couples earning $200,000. 

Both the House and Senate Republican plans would also raise the minimum wage, extend unemployment insurance for workers who lose their jobs, and cut the unemployment insurance tax credit.

The $500 million in funding for the new research budget is a small amount, but Republicans have been adamant that it will be used to research alternative forms of unemployment insurance and other policies.

Republican senators are also likely to try to add a slew of spending cuts, including $5.3 trillion in the Pentagon budget and $6.5 trillion in domestic discretionary spending.

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