House Budget Committee OKs Budget Proposal

Speaker Mike Johnson, R-La., and House Republican leaders late Thursday night announced that a budget resolution had advanced out of the Budget Committee.

The vote of 21-16 after a daylong session sends the budget blueprint to the full House, NBC News reported.

The resolution outlines a $1.5 trillion floor for spending cuts across committees with a target of $2 trillion, a $4.5 trillion cap on the deficit impact of the Republicans’ plan to extend Trump’s 2017 tax cuts, and $300 billion in additional spending for the border and defense. It also increases the debt limit by $4 trillion, The Hill reported.

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