The Senate of the United States approved in the early hours of Saturday a bill of the republican budget aimed at extending the 2017 tax cuts proposed by President Donald Trump, for a value of trillion dollars and drastically reduce the expenditure of the United States government.
The vote, after a legislative session that lasted all night, unlocks a maneuver that will allow Republicans to circumvent the obstruction in the Senate and approve the tax cuts by the end of the year without the votes of the Democrats.
Analysts do not say that the measure, if approved, will add about $ 5.7 trillions to the debt of the federal government in the next decade. Senate Republicans claim that the cost is $ 1.5 trillion, stating that the effects of existing tax policy that should expire by the end of the year should not be accounted for at the cost of the measure.
The plan also aims to increase the roof of the Federal Government of the United States of $ 5 trillions, a movement that the congress must do in the middle of the year or is in danger of not paying the debt of $ 36.6 trillion. The plan aims to partially compensate the costs of growing deficit of the tax cuts that reduce the expense. The Democrats warned that the Republican objectives endanger the medical health insurance program for low -income Americans.
The Republican President of the Senate Budget Committee Lindsey Graham of the South Carolina warned that allowing the 2017 tax cuts to hit the Americans hard.
“The average taxpayer will see a 22% increase in taxes. A family of four who earns $ 80,610, the average income in the United States would have an increase of $ 1,695 in taxes,” said Graham. The 2017 reductions, the main legislative results of Trump in his first term, have reduced the main cut of taxes on companies from 35% to 21%, a measure that should not expire.
The rest of the cuts, for individual Americans, has been defined as expired, a decision made to limit the effects of the increase in the 2017 account deficit.
“The republican bill that is now in the Senate is a poison,” said the democratic leader of the Senate Chuck Schumer on Friday. “But as Americans know that Republicans are simply doing so to give ultra tax reductions, an electric shock will reach the American people”.
Brutal sale
The debate, which began on Thursday evening, was marked by a brutal solution of the stock market after the new and complete import rates of Trump, who economists warn that they will increase prices and trigger a recession in the United States.
The Democrats offered dozens of amendments to issues ranging from the protection of social security benefits to veterans care. Most of them were blocked by the Republicans.
Now it is up to the house to discuss and possibly change the text.
After several hours of debate on Friday, the senator of the Kentucky Rand Paul – a rare republican opponent of the measure – summarized the feelings of conservatives who defend the deficit.
“On the one hand, it seems that all these great economies are happening. But, on the other, the resolution we have before us will increase the debt of $ 5 trillion. So what is the problem? Are we cutting the shopping or are we increasing the debt?”
There is likely that there are spending cuts when the downs of dust, since invoices will be approved to apply the budget plan. The most controversial, without a doubt, would be if the Republicans ended up including $ 880 billion in cuts in Medicaid.
This, said independent senator Bernie Sanders of Vermont, who is part of the democratic group, “would worsen a bad situation, taking millions of health care they have”.
Republicans said that Medicaid will not be cut. Instead, they say they have managed to save money making the program more efficient.
If the republicans of the Chamber get what they want, there may be net expenditure costs of about 2 trillion dollars.
The budget project also makes room to increase the safety measures of the frontiers of the South -ovest with the efforts of Mexico and Trump to significantly increase the deportations of immigrants.
Source: Terra
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