Tuesday, March 12, 2013

Reuters: Politics: Senate Democrats' budget seeks $1.85 trillion in savings: source

Reuters: Politics
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Senate Democrats' budget seeks $1.85 trillion in savings: source
Mar 12th 2013, 17:09

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People walk toward the U.S. Capitol in Washington March 4, 2013. REUTERS/Kevin Lamarque

People walk toward the U.S. Capitol in Washington March 4, 2013.

Credit: Reuters/Kevin Lamarque

WASHINGTON | Tue Mar 12, 2013 1:09pm EDT

WASHINGTON (Reuters) - Democrats on Wednesday will unveil a budget blueprint that attempts to slice federal deficits by $1.85 trillion over 10 years through an equal mix of spending cuts and tax increases on the rich, according to a Democratic source.

The fiscal plan, which will be debated by the Senate Budget Committee this week, is the Democrats' answer to a Republican budget set forth in the House of Representatives that claims to reach balance in 10 years through deep cuts to domestic programs and without any tax increases beyond those approved on January 1.

(Reporting By Richard Cowan and David Lawder; Editing by Sandra Maler)

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