According to Internet Media: WASHINGTON -- The big numbers from Paul Ryan’s budget: It will reduce spending by $6.2 trillion over the next decade and reduce the deficit by $4.4 trillion.
It also cuts the top income tax rate by nearly a third, from 35 percent to 25 percent.
A big part of the House Budget Chairman's plan rests on the assumption that President Barack Obama’s health care law will be repealed. Over the next decade, that would cut $1.4 trillion in spending alone, according to Ryan's budget. Those savings, however, wouldn't go directly to deficit reduction, because Ryan would also repeal the elements of health care reform that are aimed at raising revenue or reducing costs.
It also cuts the top income tax rate by nearly a third, from 35 percent to 25 percent.
A big part of the House Budget Chairman's plan rests on the assumption that President Barack Obama’s health care law will be repealed. Over the next decade, that would cut $1.4 trillion in spending alone, according to Ryan's budget. Those savings, however, wouldn't go directly to deficit reduction, because Ryan would also repeal the elements of health care reform that are aimed at raising revenue or reducing costs.
