House Dems propose $200 billion in new spending

Because, after all, money grows on trees, doesn't it? The Hill: House Democrats on Monday unveiled a 2014 budget proposal that includes $1.2 trillion in new taxes and $200 billion in stimulus spending. That's about twice the level of stimulus spending that what was in the Senate Democratic budget, which included $975 million in new taxes. House Republicans have a budget that would lower tax rates and cut spending by $5.7 trillion compared to the Congressional Budget Office baseline. The House Democratic budget, authored by Budget Committee Ranking Member Chris Van Hollen (D-Md.), would raise $1.2 trillion in revenue over ten years by ending tax breaks for both corporations and individuals. "We focus immediately on accelerating the economic recovery, on growing jobs rather than shrinking jobs," Van Hollen told reporters. The Democratic budget also includes higher guaranteed transportation spending.  Van Hollen said his budget included more spending cuts...(Read Full Post)