Republican budget would cut $5.3 trl

WASHINGTON - Agence France-Presse

US House Budget Committee chairman Ryan seeks cut in budget and taxes. AFP photo

US House Budget Committee chairman Ryan seeks cut in budget and taxes.

U.S. House Republicans rolled out a proposed budget on March 20 that slashes $5.3 trillion from President Barack Obama’s spending blueprint and reduces taxes for millions.

Unveiled by House Budget Committee chairman Paul Ryan surrounded by fellow Republicans, the so-called “Path to Prosperity” proposal amounted to an opening salvo in election-year battles over federal spending, public health insurance and pension programs.

Ryan said the budget -which stands little chance of passage in the Democratic-controlled Senate- presents Americans with “a choice of two futures,” one burdened by excessive debt, the other an example of fiscal sustainability.

“This plan of action is about putting an end to empty promises from bankrupt government and restoring the fundamental promise of America: ensuring that our children have more opportunity than we do,” he told a news conference.