WASHINGTON (CN) – The House and the Senate passed two budgets late Thursday night for the fiscal year of 2010, without the vote of a single Republican. They detail the expanse of government funding and programs, along with an increase in government debt, which will grow from the current $12 trillion to $17 trillion in 2014.
The budgets boast as their centerpiece a new middle class tax relief worth $1.7 trillion.
The federal government is predicted to have a revenue of roughly $1.5 trillion in 2009, and this will progressively grow to $2.5 trillion by 2014.
It plans to spend $3.7 trillion in 2009.
The budget deficit will be greater than the federal revenue for 2009, but it is planned to successively decrease each year to 600 or 700 million dollars by 2014.
In the House, the budget was approved 233 to 196. In the Senate, the resolution passed with amendments 55 to 43.