USA Today: Rep. Ryan unveils GOP’s $4.6T plan to cut the deficit

Susan Davis, USA TODAY2:13p.m. EDT March 12, 2013

House Republicans would balance the budget with repeal of the Obama health care law and an overhaul of Medicare.

WASHINGTON — House Republicans unveiled a budget Tuesday that would balance the nation’s books in 10 years without raising taxes but by eliminating President Obama’s health care law, revamping Medicare for future retirees and creating just two tax brackets for individuals — 10% and 25%.

By cutting $4.6 trillion in current spending over the next decade, the budget would achieve balance between what the government spends and what it collects in revenues by 2023.

“For the third straight year, we’ve delivered,” House Budget Committee Chairman Paul Ryan, R-Wis., said Tuesday at a news conference. Since taking control of the House in 2010, the GOP has approved a budget each year. The House is scheduled to approve Ryan’s budget next week. The GOP budget is non-binding and does not have the force of law, but it serves as a philosophical document on the party’s views on the size and role of the federal government.

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