Senate GOP's Budget Plan: $1.5T In Tax Cuts, $5T Debt Limit Hike—What You Need To Know

Source: International Business Times

Using the "reconciliation" process, Republicans can pass the budget with a simple majority, avoiding the usual 60-vote requirement in the Senate. AFP / SAUL LOEB Senate Republicans introduced a new budget plan on Wednesday that would allow for $1. 5 trillion in new tax cuts.