Senate Committee releases 2018 budget proposal

Senate Committee releases 2018 budget proposal

[JURIST] The Senate Budget Committee released [press release] the 2018 Budget Resolution Friday that aims to cut taxes but potentially add $1.5 trillion to the deficit over 10 years.

The budget could potentially pass the Senate [Reuters report] under current special rules that would require only 50 votes.

Senator Mike Enzi [official website] of the budget committee stressed the need to balance spending and taxing. “A pro-growth tax plan will move the U.S. economy forward, and help to produce better jobs and bigger paychecks for every American. It will also bring down tax rates across the board and enhance America’s competitiveness around the globe.”

The Senate committee plans to hold a vote next week, with it possibly heading to the floor in the next few weeks.