Senate Republicans pass budget plan, excludes cuts to fed retirement benefits
- By FederalSoup Staff
- Oct 20, 2017
The Senate passed a $4 trillion budget plan that does not include a proposal to cut billions of dollars to federal retirement benefits, unlike the House plan.
The budget resolution narrowly passed the Senate Budget Committee with a 51-49 vote, and mainly reforms tax code laws and reduces federal spending by $5 trillion.
“The Senate budget sets the stage for pro-growth tax reform that will lower taxes on American families and job creators by a net $1.5 trillion over 10 years,” committee chairman Mike Enzi (R-Wy.) said. “By keeping more money in the pockets of hardworking taxpayers and small businesses, these reforms – if done right – will boost investment, wages, and productivity here at home,” he continued.
The bill provides the maximum level of regular defense funding allowed under the law, which would prevent sequestration cuts, and includes a mechanism to adjust these levels if an agreement on revised funding levels is reached.
On Oct. 5, the House of Representatives passed a budget resolution that effectively ordered $32 billion in cuts to federal retirement benefits.
Read more about the Senate resolution here.