House GOP leaders have introduced a budget blueprint that, if approved by both chambers, would pave the way for the implementation of Donald Trump's significant border and tax bill. The proposal also includes substantial cuts to government programs and an increase in the debt limit for approximately two years.
Background
The budget blueprint is the outcome of negotiations between House Speaker Mike Johnson and GOP hardliners. It sets a goal of slashing $2 trillion in mandatory spending over the next decade, with a focus on winning support from conservative factions. Given Trump's stance on preserving Social Security and Medicare, the bulk of the savings is anticipated to come from Medicaid, which is the government's third-largest mandatory program.
Additionally, the blueprint allocates $4 trillion to raise the debt limit, covering a period of around two years. House GOP committees have been assigned the task of identifying $1.6 trillion in cuts over the next decade to help offset the $4.5 trillion expenditure on Trump's tax cuts and $200 billion for his border and deportation initiatives under the Homeland Security and Judiciary Committees.
Next Steps
The budget blueprint is set for review by the House Budget Committee on Thursday, with GOP leaders aiming for a floor vote during the final week of February, as the House will be adjourned the following week. Johnson expressed confidence that the budget resolution will secure passage in the House by the end of the month.
