Friday, April 18, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Highlights of White House, GOP budget plans

The Obama administration and House Republicans have unveiled their opening offers in talks to avoid the so-called fiscal cliff. Details are scant but the White House estimates its plan would carve $4.4 trillion from the deficit over the coming decade, including previously enacted cuts ($1 trillion) and savings from reduced costs for overseas military operations ($800 billion), as well as interest payments on the national debt ($600 billion).

House Republicans say their plan would cut deficits by $2.2 trillion over 10 years, but they don’t claim previous cuts, war savings or interest costs toward that total. Both plans would block automatic spending cuts set to hit the economy in January and renew Bush-era tax cuts set to expire at the end of the month.

The two plans both draw upon ideas from 2011 talks between President Obama and House Speaker John Boehner, including a secret plan by top Obama aide Rob Nabors that was made public by author and Washington Post writer Bob Woodward.

Here are the highlights of all three approaches:

___

TAXES

Obama: Increase taxes by $1.6 trillion over 10 years, raised by permitting tax rates on individual income exceeding $200,000 and family income over $250,000 to return to Clinton-era levels of 36 and 39.6 percent, up from 33 and 35 percent now. Increase taxes on dividend income and reduce the value of deductions and exemptions for those earning above $200,000 and 250,000. Renew the 2 percentage point payroll tax holiday or a similar tax cut for workers. Return taxes on large estates to 2009 levels. Permits tax reform to replace the existing code so long as it maintains the $1.6 trillion tax hike.

House GOP: Increase taxes by $800 billion over 10 years, raised through a comprehensive overhaul of the tax code that would curb various unspecified tax breaks while lowering tax rates overall. Extend all expiring Bush-era tax cuts on income, investments, married couples and families with children. Maintains the estate tax at current, more generous levels exempting estates up to $5.1 million from tax and sets a top rate of 35 percent. Permits payroll tax cut to expire.

Obama 2011: Raise taxes by $1.2 trillion over 10 years through overhauling the tax code along similar lines advocated by House Republicans, including lowering each tax rate by reducing tax breaks and deductions.

___

HEALTH CARE

Obama: Cut $350 billion over 10 years from federal health care programs Medicare and Medicaid, including lower Medicare drug costs and other cost curbs on health care providers.

House GOP: Cut $600 billion over 10 years. Includes unspecified cuts to health care providers and assumes an increase in the eligibility age for Medicare and increased Medicare costs for higher-income beneficiaries.

Obama 2011: Cut $360 billion over 10 years, including at least $250 billion from Medicare, in part through savings from raising the eligibility age and increased premiums for doctors’ visits and the Part D prescription drug program.

___

OTHER SPENDING CUTS

Obama: Cut the deficit by $250 billion through other spending cuts and new fees. Options include requiring federal workers to contribute more to their retirement, cut farm subsidies, increase airline security fees, overhaul Postal Service operations, and increasing fees on some enrollees in the military’s Tricare health care plan. Leaves in place existing “caps” on agency budgets passed by Congress each year.

House GOP: Deficit cuts of $300 billion through such cuts and fees from miscellaneous programs. Cut another $300 billion over the decade from agency operating budgets.

Obama 2011: Cut $200 billion from such programs. Several items on the list have been subsequently used to pay for other legislation.

___

GOVERNMENT INFLATION MEASURE:

Obama: No proposal.

House GOP: Reduce deficits by $200 billion over 10 years by replacing the current inflation adjustment for Social Security and income tax brackets with a less generous “chained CPI” that, on average, is 0.3 percentage points less than the current measure. Doing so would reduce Social Security cost-of-living increases and cause a greater portion of taxpayer income to be taxed at higher rates.

Obama 2011: Apply less generous inflation measures to both Social Security and tax brackets, but boost benefits for the oldest Social Security beneficiaries with low incomes.

___

NEW SPENDING

Obama: $200 billion in new economic “stimulus” initiatives, including payroll tax cuts, continued write-offs of business equipment purchases, extended unemployment benefits, help for borrowers “under water” on their mortgages, and new spending on infrastructure.

House GOP: No proposal.

Obama 2011: $43 billion to extend unemployment benefits to the long-term jobless.

___

DEBT LIMIT

Obama: Permit the president to obtain increases in the government’s borrowing cap, currently set at $16.4 trillion, without approval by Congress.

House GOP: Retain longstanding requirement that debt limit increases be enacted by Congress.

Obama 2011: Immediate unspecified increase in the debt limit and additional increase not subject to congressional approval.

The Associated Press

The Associated Press

LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

Solano News

‘Same Time, Next Year’ opens in Benicia

By Amy Maginnis-Honey | From Page: B1

 
‘We Got Next’ Comedy Tour stops at Dimitri’s

By Amy Maginnis-Honey | From Page: B1

Man to stand trial in rural Vacaville killing

By Jess Sullivan | From Page: A1, 1 Comment | Gallery

 
Puppies to take part in Vallejo dog show

By Adrienne Harris | From Page: A1 | Gallery

 
Barbecue brings big crowd, progress to Parkway Gardens

By Ryan McCarthy | From Page: A3 | Gallery

 
Afisivalu announces run for Fairfield council

By Ryan McCarthy | From Page: A3 | Gallery

Tonnesen seeks Fairfield City Council seat

By Ryan McCarthy | From Page: A3 | Gallery

 
Family matriarch celebrates 100th birthday

By Ian Thompson | From Page: A3 | Gallery

Assist-A-Grad wraps up interviews

By Barry Eberling | From Page: A4 | Gallery

 
Night closures possible at Merchant Street ramp

By Barry Eberling | From Page: A4

Napa County bridge to close for work

By Barry Eberling | From Page: A4

 
Town hall on crime set in Fairfield

By Ryan McCarthy | From Page: A4

 
Crash shuts I-80 offramp to Highway 12

By Barry Eberling | From Page: A5 | Gallery

Suisun City police log: April 16, 2014

By Susan Hiland | From Page: A12

 
Fairfield police log: April 16, 2014

By Susan Hiland | From Page: A12

Weather for April 18, 2014

By Daily Republic staff | From Page: B12

 
.

US / World

Putin’s choice of words shed light on Ukraine

By The Associated Press | From Page: A1

 
Who gained, and what, at Ukraine talks

By The Associated Press | From Page: A1

Ukrainian unity on display with peaceful rallies

By The Associated Press | From Page: A1

 
Deal reached on calming Ukraine tensions – for now

By The Associated Press | From Page: A1

Salmon released in California river restoration

By The Associated Press | From Page: A4

 
Astronomers spot most Earth-like planet yet

By The Associated Press | From Page: A5

Jury convicts husband in Iraqi woman’s death

By The Associated Press | From Page: A5

 
1 dead, 1 injured in California boating accident

By The Associated Press | From Page: A5

BART fined $210,000 for worker deaths

By The Associated Press | From Page: A5

 
Military shell prompted evacuation of hundreds

By The Associated Press | From Page: A5

California health care sign-ups exceed projections

By The Associated Press | From Page: A6

 
Obama: 8 million signed up for health care

By The Associated Press | From Page: A6

Dirty creek, old purse solve four-decade mystery

By The Associated Press | From Page: A7

 
Man said to be homesick for prison gets 3 1/2 years

By The Associated Press | From Page: A8

Chelsea Clinton expecting first child this fall

By The Associated Press | From Page: A8

 
Holder: Hate crimes ‘an affront to who we are’

By The Associated Press | From Page: A8

S. Sudan: 12 die after mob attacks UN base

By The Associated Press | From Page: A10

 
Peru volcano prompts evacuation of 4,000

By The Associated Press | From Page: A10

Nigeria: Fate of 115 abducted girls unknown

By The Associated Press | From Page: A10

 
Spate of Mideast virus infections raises concerns

By The Associated Press | From Page: A10

Samples collected from oil slick not from plane

By The Associated Press | From Page: A10

 
Tiny power plants hold promise for nuclear energy

By The Associated Press | From Page: A13

Confused, chaotic scene described on sinking ferry

By The Associated Press | From Page: A13

 
.

Opinion

Food brings back fond memories

By Bud Stevenson | From Page: A11

 
Is Jeb Bush too old school for the new GOP?

By Doyle Mcmanus | From Page: A11, 1 Comment

Internationally out of touch

By Letter to the Editor | From Page: A11

 
Watch out for grandson scam

By Letter to the Editor | From Page: A11, 2 Comments

Why so much spent to find a plane?

By Letter to the Editor | From Page: A11

 
Editorial Cartoons for April 18, 2014

By Daily Republic Syndicated Content | From Page: A11

.

Living

Today in History for April 18, 2014

By The Associated Press | From Page: A2

 
Community Calendar: April 18, 2014

By Susan Hiland | From Page: A2

My husband tells our sons that they don’t need to listen to me

By Kathy Mitchell and Marcy Sugar | From Page: B13

 
Horoscopes for April 18, 2014

By Holiday Mathis | From Page: B13

.

Entertainment

 
Week in preview April 18-24, 2014

By Amy Maginnis-Honey | From Page: B1

Review: ‘Heaven Is for Real’ heartfelt but dull

By The Associated Press | From Page: B2

 
Lost radio program featuring Hank Williams found

By The Associated Press | From Page: B3

 
‘Real Housewives’ TV star faces battery charge

By The Associated Press | From Page: B3

Ill, hospitalized Miley Cyrus postpones more shows

By The Associated Press | From Page: B3

 
Garcia Marquez, Nobel laureate, dies at 87

By The Associated Press | From Page: B3

Entertainment calendar April 18, 2014

By Susan Hiland | From Page: B4

 
TVGrid

By Daily Republic Syndicated Content | From Page: B6

.

Sports

Dodgers get to Bumgarner early for win over Giants

By The Associated Press | From Page: B7 | Gallery

 
Badminton update: Rodriguez, Armijo head toward post season

By Brian Arnold | From Page: B7 | Gallery

MEL boys roll to easy win over SCAC

By Paul Farmer | From Page: B7 | Gallery

 
Short-handed SCAC girls ‘gut out’ all-star win over MEL

By Paul Farmer | From Page: B7 | Gallery

Sharks beat Kings 6-3 in Game 1

By The Associated Press | From Page: B7 | Gallery

 
Montreal team sign Chad Johnson to 2-year contract

By The Associated Press | From Page: B8

Seattle 1B Choi banned 50 games for positive test

By The Associated Press | From Page: B8

 
Dodgers’ Puig focuses on baseball despite issues

By The Associated Press | From Page: B8

Miguel Angel Jimenez set for Champions Tour debut

By The Associated Press | From Page: B8 | Gallery

 
Sponsorship woes put Swan Racing future in doubt

By The Associated Press | From Page: B8

Ex-quarterback McNabb spends day in Arizona jail

By The Associated Press | From Page: B8

 
Season wrapup: Sacramento Kings’ ‘new era’ off to slow start

By The Associated Press | From Page: B8 | Gallery

 
Clippers-Warriors series billed as must-see TV

By The Associated Press | From Page: B8

Kuchar builds on Masters momentum, shares Heritage lead

By The Associated Press | From Page: B8 | Gallery

 
War of words in Northwestern-athletes’ union fight

By The Associated Press | From Page: B8

Shumenov gets big chance in ring against ageless Hopkins

By The Associated Press | From Page: B8

 
Boston Marathon makes room for more runners

By The Associated Press | From Page: B9

Stanford takes lead at LPGA LOTTE tournament

By The Associated Press | From Page: B9

 
Vanden clinches at least share of SCAC boys tennis title

By Daily Republic staff | From Page: B10

 
.

Business

Toyota Camry gets a top-to-bottom makeover

By The Associated Press | From Page: C1

 
Hot models at this year’s New York Auto Show

By The Associated Press | From Page: C2

Judge won’t order recalled GM cars to be parked

By The Associated Press | From Page: B6

 
Cyber cops: Target hackers may take years to find

By The Associated Press | From Page: B6

Walmart jumps into the money transfer biz, loudly

By The Associated Press | From Page: B6

 
.

Obituaries

Sealwyn Shirley Brucefield Shepherd Malkiewicz

By Nancy Green | From Page: A4

 
.

Comics

Rose is Rose

By Daily Republic Syndicated Content | From Page: B12

 
Pickles

By Daily Republic Syndicated Content | From Page: B12

Blondie

By Daily Republic Syndicated Content | From Page: B12

 
For Better or Worse

By Daily Republic Syndicated Content | From Page: B12

Wizard of Id

By Daily Republic Syndicated Content | From Page: B12

 
Baby Blues

By Daily Republic Syndicated Content | From Page: B12

Dilbert

By Daily Republic Syndicated Content | From Page: B12

 
Peanuts

By Daily Republic Syndicated Content | From Page: B12

Zits

By Daily Republic Syndicated Content | From Page: B12

 
Frank and Ernest

By Daily Republic Syndicated Content | From Page: B12

Get Fuzzy

By Daily Republic Syndicated Content | From Page: B12

 
Garfield

By Daily Republic Syndicated Content | From Page: B12

Sally Forth

By Daily Republic Syndicated Content | From Page: B12

 
Baldo

By Daily Republic Syndicated Content | From Page: B12

Beetle Bailey

By Daily Republic Syndicated Content | From Page: B12

 
B.C.

By Daily Republic Syndicated Content | From Page: B12

Bridge

By Daily Republic Syndicated Content | From Page: B13

 
Word Sleuth

By Daily Republic Syndicated Content | From Page: B13

Crossword

By Daily Republic Syndicated Content | From Page: B13

 
Cryptoquote

By Daily Republic Syndicated Content | From Page: B13

Sudoku

By Daily Republic Syndicated Content | From Page: B13