Thursday, March 21, 2013 10:51 am
House passes GOP budget that sharply cuts spending
By STEPHEN OHLEMACHERAssociated Press
It would not raise taxes, in sharp contrast to budget plans offered by Democrats.
Instead, the plan written by Budget Committee Chairman Paul Ryan - which passed on a 221-207 party-line vote - would reduce spending on the Medicaid health care plan for the poor and eliminate "Obamacare" subsidies.
It exempts the Pentagon and Social Security beneficiaries from spending cuts but revives a plan to turn Medicare into a voucher-like system for beneficiaries born in 1959 or later.
The plan sets nonbinding targets for taxes and spending.