The House has passed a Republican-sponsored budget alternative to President Obama’s fiscal 2013 budget, mostly based on the plan put forward by House Budget Committee Chairman Paul Ryan, R-Wisc., for creating only two tax brackets of just 10 and 25 percent.
Ryan introduced his budget plan only a little over a week ago, although it largely hewed toward the plan he put forward last year (see House GOP Proposes Tax Bracket Consolidation). The House passed the bill in a 228-191 vote, mostly along party lines.
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