House budget plan a step toward goal of tax overhaul

House budget plan a step toward goal of tax overhaul

October 6th, 2017 by Associated Press in National Business

Sen. Lindsey Graham, R-S.C., left, confers with Sen. Pat Toomey, R-Pa., as the Senate Budget Committee votes on amendments during the markup of Senate's fiscal year 2018 budget resolution, on Capitol Hill in Washington, Thursday, Oct. 5, 2017. (AP Photo/J. Scott Applewhite)

Photo by The Associated Press /Times Free Press.

WASHINGTON (AP) - The Republican-led House has taken a step toward its top priority of revising the tax code.

On paper, the budget plan approved Thursday by House members tries anew to repeal the health care law passed under President Barack Obama and turn Medicare into a voucher-like program. Yet there are no expectations that such changes will take place ahead of an overhaul of the tax code.

Instead, the budget plan is aimed at setting the stage for the tax overhaul by satisfying certain procedural demands. The goal is to prevent Democrats in the Senate from blocking the tax overhaul by using a filibuster. Instead, a simple majority would prevail in the Republican-dominated Senate.

Nevertheless, the budget plan sets spending at $4.1 trillion while promising deep cuts to social programs.


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