Fox Business
Expand
Browse All Video
Watch Live

You're watching...

House Taking Up Legislation to Avoid $1.2T in Cuts

Details

  • Description

    FBN’s Rich Edson breaks down the latest battle on government spending and cuts.

  • Duration 1:42
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Last year -- And -- here from inside out land right here right now pay rent.

-- -- -- in you know -- what they do fight over the budget this round is far from over there's an even bigger fight coming in the next six months at this time.

They're debating spending cuts to formally replace about a hundred billion dollars in across the board cuts next year even more after that.

Including those to defense spending instead Republicans propose any more than 300 billion dollars.

Over the next decade cutting increases in food stamps health care.

And federal worker benefits among other programs Democrats oppose this they prefer a mix of cuts and tax increases.

We say that the big oil companies don't need taxpayer subsidies to encourage them to go drill we also say that.

Millionaire should pay the same effective tax rate as the people who worked for them.

Does this looks like we have a tax problem here does it look like we have a spending problem in this nation.

Taxes have remained the same as a percent of GDP as has -- -- Until now.

The house votes this afternoon on the Republican plan it will likely tax state -- -- so this passes today.

And then what -- Goes to the senate and -- out for awhile senate majority leader Harry Reid says these automatic cuts are a balanced way to reduce the deficit.

Republicans suspect he simply staking out a tough.

Negotiation position to do another seven months or so to figure this -- health -- to go on vacation and that's -- -- austere.

I was is running errands like -- for a couple of customer -- when -- get up there with what you.

Here's why the -- there Peters left of the back up thank you -- C to DC area that we've got a guy.

Load More