国际英语资讯:U.S. House Republicans unveil budget blueprint, setting stage for fiscal battle_时事

国际英语资讯:U.S. House Republicans unveil budget blueprint, setting stage for fiscal battle

WASHINGTON, March 12 (Xinhua) -- U.S. House Republicans on Tuesday put forth their latest budget proposal, setting out battle lines for a fiscal fight which would stretch throughout much of the spring in Washington.

At a press conference on Tuesday morning, House Budget Committee Chairman Paul Ryan introduced the budget blueprint which would achieve 4.6 trillion dollars spending reduction over 10 years and balance the budget by 2023.

As was the case last year, the House GOP budget plan promised to repeal President Barack Obama's healthcare law and change Medicare into a voucher-like plan, in which future retirees would receive subsidies to purchase private insurance or traditional Medicare. Medicaid, meanwhile, would be converted into a block- grant program.

国际英语资讯:U.S. House Republicans unveil budget blueprint, setting stage for fiscal battle1

The plan called for tax reforms that eliminate loopholes and consolidate tax brackets into two, but rejected further tax increases.

"We cut wasteful spending. We repair the safety net so that we can help those in need. We protect and strengthen key priorities like Medicare, a program that's going bankrupt ... We foster a healthier economy so that we can create jobs and grow more wages," Ryan stated. The 2012 GOP vice presidential nominee said the outcome of the election doesn't mean they have to surrender the principles they believe in.

In an op-ed published in Tuesday's The Wall Street Journal, Ryan claimed that his budget will help economic growth. "Smaller deficits will keep interest rates low, which will help small businesses to expand and hire," he explained.