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Tuesday, March 12, 2013

 11:44 AM 

Ryan officially releases budget plan

U.S. Rep. Paul Ryan, R-Janesville, released his 2014 House Budget proposal, which aims to cut spending by $4.6 trillion over the next decade, repeal the Affordable Care Act, restructure Medicare and balance the budget by fiscal year 2023.

A copy of the budget proposal can be found here.

In addition to the Medicare and ACA changes, Ryan's budget would also turn Medicaid into a block grant program with fewer federal restrictions, gradually turn the food stamp program into a block grant program with work requirements and time limits, lower the top tax rates for individuals and corporations at 25 percent and repeal the Alternative Minimum Tax.

Update: Reaction to Ryan's budget has split predictably along party lines, with Republicans praising it for its fiscal responsibility and Democrats hammering it for provisions that cut back on Medicare.

The Republican Party of Wisconsin said Ryan's budget put the country on track to "putting our fiscal house in order" and pointed out that Democrats had not passed a budget in 1,400 days.

"The plan balances the budget, holds the line on taxes, and controls spending while investing in our priorities," said RPW Executive Director Joe Fadness in a statement. "I applaud Ryan for his leadership and willingness to guide America toward a path of renewal."

Meanwhile, U.S. Rep. Mark Pocan, D-Madison, who also sits on the House Budget Committee, chastised Ryan for  his budget, calling it a "reckless and irresponsible choice" to target benefits for seniors and working families.

“Rep. Ryan and I share Rock County between our two districts, and Rock County has one of the highest unemployment rates in our state," Pocan said in a statement. "Families in Rock County and across Wisconsin are not strengthened by a budget that locks the irresponsible sequester cuts in place, turns Medicare into a voucher program, and preserves tax cuts for oil companies and corporations that outsource jobs. What they deserve are substantive actions from Congress that can lead to economic growth and long-term job creation."

You can find more reaction to Ryan's budget in the press releases.


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