US House approves 2018 budget to pave way for tax reform

Source:Xinhua Published: 2017/10/6 10:44:01

US House of Representatives on Thursday passed a budget resolution for fiscal year 2018 and paved way for the future passage of tax reform legislation.

In a nearly party-line vote of 219-206, lawmakers approved the budget which sets up a process that could help congressional Republicans avoid a filibuster in the Senate when discussing its tax reform bill and pass it without any Democratic vote.

"We move one step closer to fixing our broken tax code so it puts American first," said House Speaker Paul Ryan on his twitter after the passage of the budget resolution.

The resolution calls for more than five trillion US dollars in spending cuts over the coming decade, with deep cuts in Medicaid and Medicare.

"Cutting taxes for the rich while forcing hard-working families to pick up the bill. Cutting Medicare & Medicaid. No thanks!" said House Democratic Leader Nancy Pelosi in her twitter on Thursday.

Aside from opposition from Democrats, the House budget plan will also likely meet clash with Senate Republicans who are discussing a different budget resolution. The Senate budget plan would allow 1.5 trillion US dollars in tax cut.

Local media said the Senate is not expected to accept 203 billion US dollars in mandatory cuts from the House budget.

The House and the Senate should both pass the same budget before the resolution takes effect.

Posted in: AMERICAS

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