Republicans have passed the Paul Ryan-led budget plan by a vote of 228-191 in the House of Representatives, but has absolutely no chance of passing in the Senate and becoming law.The vote was almost completely split along party lines, with 10 Republicans going across the aisle to oppose the measure. No Democrats voted for the measure.
Ryan, the chair of the House Budget Committee, announced the budget plan last week. It includes drastic changes that Ryan says would balance the budget and return the government to surpluses by the 2030s. The plan calls for a redrawing of the tax code into two income-tax brackets — 25 per cent and 10 per cent. It would drop corporate tax levels from 35 per cent to 25 per cent, and make sweeping changes to Medicare and Medicaid.
Here’s Ryan’s immediate reaction:
I couldn’t be prouder of my colleagues who have joined me in this historic vote to meet America’s defining challenge: ow.ly/9XIr8
— Paul Ryan (@RepPaulRyan) March 29, 2012
Democrats have said that the budget would be an end to “Medicare as we know it” and give more tax breaks to millionaires.
All that said, the budget has no chance of passing in the Democrat-controlled Senate. This is more of Ryan and the Republicans publicly displaying a contrast of ideals between parties heading into the important 2012 election season. Here’s what House Speaker John Boehner said on the House floor today:
“It’s a real pathway to prosperity. It makes the decisions and puts us on a course that’s sustainable, not just for our generation, but for our kids and our grandkids. I think it’s high time that we’re serious about actually solving America’s fiscal problems. The first step is actually doing a budget.”
Meanwhile, according to The Washington Post, White House spokesman Jay Carney said the budget would lead to “a segmented replacement for Medicare that would burden seniors and end the program as we know it.”
Business Insider Emails & Alerts
Site highlights each day to your inbox.