Senate Republicans introduced a budget blueprint aiming to increase the debt limit by $5 trillion and make 2017 federal tax cuts permanent. This measure, differing from the House's proposal, is crucial for advancing President Trump's agenda, which includes tax cuts, border security, and defense spending. Senate Majority Leader John Thune emphasized the commitment to prevent a $4 trillion tax increase. However, the proposal faced criticism from the Committee for a Responsible Federal Budget, which warned it could lead to massive deficits without justifying potential savings from the House's more conservative plan.
"Republicans in the Senate and the House are committed to working with President Trump to stop Democrats from imposing an automatic $4 trillion tax hike on the American people at the end of this year."
"This budget would set the stage for the largest deficit increase ever - three times as large as the American Rescue Plan, four times larger than the Tax Cuts and Jobs Act, and 75 percent larger than all bipartisan COVID relief combined."
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