The House of Representatives passed the FY2013 Budget Bill, Thursday, on largely partisan lines. The bill was proposed by Congressman Paul Ryan (R-WI), Chairman of the House Budget Committee.
228 Republicans voted for the bill. 181 Democrats and 10 Republicans voted against.
Members from both parties addressed the press following the vote.
The plan caps non-defense discretionary spending at $1.028 trillion, $19 billion below the levels set by the Budget Control Act of last August. It will cancel automatic spending cuts put in place in that bill, known as sequestration, that would include large cuts in both defense and domestic spending.
Another key function of the bill is to eliminate four of six tax brackets, and setting the maximum tax rate at 25 percent for the top earners and 10 percent for lower income families. Rep. Ryan has said that he will pay for these tax cuts by eliminating many of the loopholes in the current tax code that allow many higher-income families and businesses to pay a lower effective tax rate than the current upper limit of 35 percent.
The bill now moves to the Democratically-controlled Senate, where it is likely to fail in favor of the spending levels agreed to during last year's debt ceiling debate.