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Republicans unveil cuts as Democrats eye tax hike
Posted By MarleighJones On May 12, 2011 @ 8:21 am In Economic Crisis | Comments Disabled
May 12, 2011
Republicans planned sharp cuts to foreign aid and education on Wednesday, while Democrats weighed a tax hike on millionaires, highlighting the yawning divide between the two parties in the budget debate.
With a struggle over raising the debt limit expected to last through the summer, Republicans in the House of Representatives forged ahead with a spending plan for the coming fiscal year that points to another bruising struggle in the fall.
Republicans have pressed for deep spending cuts to get the country’s rapidly rising debt under control. They won the largest domestic spending cut in history last month in a battle that took the government to the brink of a shutdown.
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