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 budget resolution also would provide for as much as $300 billion in new border and defense spending and would allow Republicans to raise the debt limit by $4 trillion — enough for about a two-year extension. The blueprint reflects Speaker Mike Johnson’s latest plan, first circulated Monday night in a bid to overcome weeks of delays.
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.
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.
