The U.S. House approved a $3.5 trillion budget on a party-line vote. It’s heavy on tax breaks for the wealthy and cuts to entitlement programs. The so-called Ryan budget, crafted by U.S. Rep. Paul Ryan (R-Wis.), aims to cut taxes for corporations and the wealthiest Americans, offset by eliminating unspecified individual deductions and tax loopholes. U.S. Rep. Aaron Schock (R-Peoria, pictured) says the plan cuts Medicare and Medicaid, but not for seniors citizens.
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“Current seniors as well as those who are a decade away from retirement would not see their plans change at all,” says Schock. “For those of us that are younger and still working, that would give us time to plan.” Democrats blasted the plan, voting unanimously against it, saying a more balanced approach is needed to cut spending. Ten Republicans voted against it saying it doesn’t cut enough. It’s unlikely to pass the Senate, which hasn’t passed a budget in more than three years.