The House Budget Committee unveiled a fiscal blueprint for Republicans’ sweeping domestic policy legislation Wednesday that would allow for at least $4.5 trillion in tax cuts while slashing spending by at least $1.5 trillion over the coming decade.
The draft blueprint also provides for as much as $300 billion in new border and defense spending and would allow Republicans to raise the debt limit by $4 trillion.
The move comes ahead of an expected markup Thursday and after months of back-and-forth between Republicans on how to proceed with enacting President Donald Trump’s agenda, including tax cuts, border and energy policy.
House Speaker Mike Johnson expressed confidence Wednesday that the draft blueprint could pass the committee, setting it up for floor action later this month after lawmakers return from a one-week President’s Day recess.
Budget reconciliation instructions call on the House Energy and Commerce Committee to cut at least $880 billion in spending, meaning lawmakers would likely need to enact deep cuts into Medicaid — going beyond the work requirements that most Republicans support. Those are likely to set off a significant backlash from moderate Republicans and GOP governors, since they would mean states would have to foot more of the bill for the program and could lead to patients losing benefits.
