House Budget Committee Passes

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tax cuts

NBC News

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US Politics

House GOP panel passes budget blueprint with $4.5 trillion in tax cuts and steep spending reductions

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The vote of 21 -16 sends the budget resolution to the full House , where Republicans must unify their paper-thin majority to approve it.

The budget calls for up to $4.5 trillion in new deficits through tax cuts, which Republicans plan to use to extend Trump ’s tax law and pass other pieces of his tax agenda.

The Senate Budget Committee approved a conflicting budget resolution Wednesday .

Republicans in high-tax blue states like New York want to ensure that their tax bill will raise the current $ 10,000 cap on the state and local tax deduction.

It’s unclear whether the measure creates enough room for other priorities, like ending taxes on tips, overtime pay and Social Security benefits.

Rep. Nicole Malliotakis , R-N.Y., said she has expressed “concerns” to leaders about the prospect of steep spending cuts.

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