The House Democrats' budget introduced this week would cancel the $1.2 trillion in deficit-reduction moves scheduled to begin in January, which include cuts of up to 2% in Medicare provider payments.
The blueprint for future spending would replace those cuts with alternative “targeted spending cuts and revenue increases,” according to a summary of the measure.
“This budget will reduce the deficit in a balanced and credible way, making difficult choices while providing investments that help create jobs now and build an even stronger economy for the future,” Rep. Chris Van Hollen (D-Md.), ranking member of the House Budget Committee, said in a written statement. “But unlike the Republican budget—which ends the Medicare guarantee while providing tax breaks to millionaires—we ask the very wealthy and special interests to share responsibility for reducing the deficit.”