Senate Democrats began marking up a budget resolution Wednesday for the first time since 2009. The Democratic plan, released by Senate Budget Committee Chair Patty Murray of Washington, draws clear distinctions with the Republican proposal put forward last week by the House Budget Committee, led by Rep. Paul Ryan of Wisconsin.
Ryan’s budget resolution for the coming fiscal year largely follows the outlines of budgets he released in 2011 and 2012 that became guideposts for GOP priorities, outlining fundamental changes to entitlement programs in order to stabilize debt and deficits. Unlike Ryan’s past proposals, however, his 2014 blueprint would balance the budget in 10 years, relying on trillions in spending cuts to get to a $7 billion surplus in 2013. The House Budget panel approved the Ryan plan on Wednesday on a party-line vote of 22-17.
The Murray budget is less ambitious in terms of deficit reduction, and unlike the Republican approach, would add new revenue by closing tax loopholes that benefit corporations and the wealthy. It also includes $100 billion in new stimulus funds for infrastructure investments.
The graphs above compare the outlay, revenue and deficit effects of each chamber’s 2014 budget resolution compared to current law projections in the Congressional Budget Office’s February baseline.