GOP Budget: $2T Cut With $4T Cap on Debt Ceiling Rise

The delayed House GOP budget resolution was unveiled Wednesday morning featuring $2 trillion in mandatory spending cuts and a $4 trillion cap on raising the debt limit.

Raising the debt limit was a controversial issue sought by President Donald Trump while seeking to deliver on vows to cut government spending.

The 45-page bill also includes $4.5 trillion of room for Ways and Means to lock in tax cuts, while Chair Jason Smith, R-Mo., has been arguing that will not be enough to do all Republicans want.

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