House Republicans Tuesday offered a path to a balanced budget in 10 years that would curb spending by $4.6 trillion and repeal ObamaCare.
The fiscal blueprint would hold the line on taxes, but not roll back the New Year fiscal-cliff tax hikes. Revenue would rise to 19.1% of GDP by 2023, above the 40-year average of about 18%.
The GOP is still committed to cutting the top corporate tax rate to 25% and affirmed its "goal of achieving a top individual tax rate of 25%" via tax reform.
Source: Investors Business Daily. Read full article. (link)