The NewStandard ceased publishing on April 27, 2007.

Republicans Plan Massive Cuts to Taxes, Social Spending for 2006

by Madeleine Baran

Mar. 10, 2005 – House and Senate Republicans yesterday introduced budget plans for the next fiscal year, proposing billions of dollars of cuts in government programs - along with billions more in tax cuts.

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The House proposal would require the Ways and Means Committee to cut $18.7 billion through 2010; the committee is responsible for the earned-income tax credit, Medicare, child care and unemployment insurance. The Education and Workforce Committee would have to cut entitlement programs, including student loan and pension programs, by over $21 billion. The Energy and Commerce Committee would be required to trim $20 billion, mostly from Medicaid, federal power authorities, and environmental cleanups.

The Senate version calls for $15 billion worth of cuts to the Finance Committee, which oversees Medicare and Medicaid. In addition, the Health, Education, Labor and Pensions Committee would have to cut $8.6 billion from its budget.

Meanwhile, the House proposal includes $106 billion in tax cuts; the Senate version includes $70.2 billion.

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The NewStandard ceased publishing on April 27, 2007.

Madeleine Baran is a contributing journalist.

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