By Jeremy Pelofsky and Richard Cowan
WASHINGTON, April 28 (Reuters) - Democratic leaders on Tuesday predicted the Congress would approve a compromise $3.4 trillion 2010 budget blueprint on Wednesday, handing a big legislative victory to President Barack Obama on what would be his 100th day in office.
After addressing some concerns among fiscally conservative Democrats in the House of Representatives, House Majority Leader Steny Hoyer and Senate Majority Leader Harry Reid both expected the plan for 2010 spending and taxes would pass.
'I expect to see this pass in the next 30 hours,' Hoyer told reporters, adding the measure likely would be debated and passed on the House floor on Wednesday. Reid said he expected the Senate to approve it on Wednesday as well.
The House and Senate compromise budget resolution includes language that would enable Democrats to fast-track healthcare legislation, a major priority Obama has set for this year, but Republicans fiercely oppose doing it that way.
Republicans have also decried the package as including too much taxes and spending. 'The deficit alone for the next year is larger than the entire budget was a mere 10 years ago,' said California Republican Representative David Dreier.
The budget forecasts a $1.2 trillion deficit for fiscal 2010, which starts on Oct. 1, and some fiscally conservative Democrats have been upset that it does not require Congress to adopt pay-as-you-go budgeting for new programs.
To address those concerns, Hoyer and House Speaker Nancy Pelosi sent a letter to lawmakers saying they will not consider likely legislation on taxes and Medicare reimbursement levels for doctors unless the costs are covered.
The Blue Dog Democrats, a coalition of some 51 members, have been in a tough position trying to stick to their pledge to pursue pay-as-you-go budgeting or face voting against their own president's budget which could scuttle the plan.
One of the group's leaders, Democratic Representative Allen Boyd, said he did not expect more than 14 or so from the coalition to vote against it. 'This budget conference report is much stronger on our issues than the House budget resolution.'
HEALTHCARE, EDUCATION, CLIMATE
The budget plan, which most Republicans oppose, 'Gets us moving toward re-balancing the fiscal posture of America' that brought a huge run-up in debt during the Bush administration, Hoyer said.
The Senate is also expected to debate and approve the fiscal 2010 budget on Wednesday. The legislation is not signed into law by the president but provides guidelines for future spending and tax bills.
But this recession-era budget also results in hundreds of billions of dollars in deficits annually, although below the red ink this year, which could top $1.8 trillion for the year ending Sept. 30.
The budget plan written by Democrats trims some of President Barack Obama's $3.55 trillion request but largely endorses his proposals to carry out major healthcare reforms, increase education spending and take steps to reduce pollution that contributes to global warming.
It also calls for some $764 billion in tax cuts, sets a plan to cut the budget deficit to $523 billion by 2014, reaching a goal set by Obama, and calls for extending the exemption for the estate tax to $7 million for couples.
It also includes a provision aimed at pushing for greater transparency at the Federal Reserve including to evaluate the appropriate number of Federal Reserve banks as well as provide some new details about emergency lending to address the financial crisis.
(Editing by Cynthia Osterman) Keywords: OBAMA/BUDGET CONGRESS (jeremy.pelofsky@thomsonreuters.com; Reuters Messaging: jeremy.pelofsky.reuters.com@reuters.net; 202-898-8391) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
WASHINGTON, April 28 (Reuters) - Democratic leaders on Tuesday predicted the Congress would approve a compromise $3.4 trillion 2010 budget blueprint on Wednesday, handing a big legislative victory to President Barack Obama on what would be his 100th day in office.
After addressing some concerns among fiscally conservative Democrats in the House of Representatives, House Majority Leader Steny Hoyer and Senate Majority Leader Harry Reid both expected the plan for 2010 spending and taxes would pass.
'I expect to see this pass in the next 30 hours,' Hoyer told reporters, adding the measure likely would be debated and passed on the House floor on Wednesday. Reid said he expected the Senate to approve it on Wednesday as well.
The House and Senate compromise budget resolution includes language that would enable Democrats to fast-track healthcare legislation, a major priority Obama has set for this year, but Republicans fiercely oppose doing it that way.
Republicans have also decried the package as including too much taxes and spending. 'The deficit alone for the next year is larger than the entire budget was a mere 10 years ago,' said California Republican Representative David Dreier.
The budget forecasts a $1.2 trillion deficit for fiscal 2010, which starts on Oct. 1, and some fiscally conservative Democrats have been upset that it does not require Congress to adopt pay-as-you-go budgeting for new programs.
To address those concerns, Hoyer and House Speaker Nancy Pelosi sent a letter to lawmakers saying they will not consider likely legislation on taxes and Medicare reimbursement levels for doctors unless the costs are covered.
The Blue Dog Democrats, a coalition of some 51 members, have been in a tough position trying to stick to their pledge to pursue pay-as-you-go budgeting or face voting against their own president's budget which could scuttle the plan.
One of the group's leaders, Democratic Representative Allen Boyd, said he did not expect more than 14 or so from the coalition to vote against it. 'This budget conference report is much stronger on our issues than the House budget resolution.'
HEALTHCARE, EDUCATION, CLIMATE
The budget plan, which most Republicans oppose, 'Gets us moving toward re-balancing the fiscal posture of America' that brought a huge run-up in debt during the Bush administration, Hoyer said.
The Senate is also expected to debate and approve the fiscal 2010 budget on Wednesday. The legislation is not signed into law by the president but provides guidelines for future spending and tax bills.
But this recession-era budget also results in hundreds of billions of dollars in deficits annually, although below the red ink this year, which could top $1.8 trillion for the year ending Sept. 30.
The budget plan written by Democrats trims some of President Barack Obama's $3.55 trillion request but largely endorses his proposals to carry out major healthcare reforms, increase education spending and take steps to reduce pollution that contributes to global warming.
It also calls for some $764 billion in tax cuts, sets a plan to cut the budget deficit to $523 billion by 2014, reaching a goal set by Obama, and calls for extending the exemption for the estate tax to $7 million for couples.
It also includes a provision aimed at pushing for greater transparency at the Federal Reserve including to evaluate the appropriate number of Federal Reserve banks as well as provide some new details about emergency lending to address the financial crisis.
(Editing by Cynthia Osterman) Keywords: OBAMA/BUDGET CONGRESS (jeremy.pelofsky@thomsonreuters.com; Reuters Messaging: jeremy.pelofsky.reuters.com@reuters.net; 202-898-8391) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.