WASHINGTON (AP) — House Republicans released a budget plan Wednesday that sets the stage for advancing many of President Donald Trump’s top domestic priorities, providing for up to $4.5 trillion in tax cuts and a $4 trillion increase in the debt limit so the U.S. can continue financing its bills.
The budget plan also directs a variety of House committees to cut spending by at least $1.5 trillion while stating that the goal is to reduce spending by $2 trillion over 10 years.
The blueprint represents a first step in a lengthy legislative process that would allow Republicans to pass some of their top priorities in a simple majority vote. The House Budget Committee is expected to hold votes on the plan on Thursday. House Speaker Mike Johnson predicted it would easily advance out of committee.
