'Tax Break for the Rich': House Passes Ryan Budget
Budget serves as GOP 'campaign manifesto' ahead of midterms
If made into law, the bill would block funding for Medicaid and food stamps, turn Medicare into a voucher system, repeal the Affordable Care Act, cut grants for college students, dramatically decrease research and infrastructure spending, and slash multiple other safety net programs for hurting U.S. residents, all the while lowering the corporate tax rate to 25 percent and increasing military spending.
According to the Center on Budget and Policy Priorities's calculations, the Ryan plan gets 69 percent of its budget cuts from programs for people with low or moderate incomes.
"The $5.1 trillion in cuts are of particular interest, not just because they’re needed to finance another tax break for the rich, but also in light of how brutal they would be to critical public services," writes Steve Benen at MSNBC.
The budget "will serve largely as a campaign manifesto" for upcoming midterm elections, Reuters reports, as it is not expected to pass in the Senate.