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Senate Democrats propose budget plan with $957B in new taxes

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    Mike Emanuel reports from Washington, D.C.

  • Duration 2:50
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Got a new budget plan and it's got some new taxes in and as well senate Democrats proposed a plan.

It has one trillion dollars in new taxes in this plan.

Hundred billion dollars in new spending that's how we kick off the second hour here of America's Newsroom on a -- that we're watching for the smoke as well from the Vatican and I'm like -- -- I'm Bill Hemmer good morning at home President Obama now noble talked to house Republicans this afternoon face to face meeting.

On the hill with them only hours before democratic senator.

Patty Murray introduces her budget proposal some of the highlights of the democratic plan he does not balance the budget.

It does include 257 billion dollars in cuts to Medicare providers it also includes 975.

Billion dollars in new revenue.

Many of which show will come my way of closing tax loopholes.

Chief national correspondent -- -- hill's live from Capitol Hill so what -- we know about the senate Democrats plan Mike.

And how different it is -- the one that we heard proposed from the other side of the outcome Paul Ryan.

Martha good morning big differences from Paul Ryan's plan.

This plan would fully.

Replace the automatic spending cuts known -- sequestration it would spend or invest in things like education.

Job training infrastructure but to do all that they're calling for a new tax revenue a leading senate Republicans suggest that Democrats.

Our ancestors with raising taxes.

-- What they're putting forth is an additional trillion dollars.

In taxes they haven't said how they'll do that and that's on top of the 600 billion dollars in revenue.

That came from the fiscal cliff so then -- one point six and then you put the obamacare taxes on top of it.

Dad who's on the Budget Committee all -- says although she disagrees with the Democrats philosophy in their approach.

Is glad they are doing one for the first time a budget first time in four years.

How about the other side Mike what is the argument in favor of senator patter patty Murray's plan.

Well essentially what they are saying is that it would be a balanced approach to essentially fixing a lot of the fiscal problems there our country is facing.

They are accusing Republicans of doubling down what they call extreme budget the American people rejected.

They call the senate the Democrats effort responsible putting jobs and the economy first.

Forever since the balanced approach.

What we need to do with the economy.

And have brought before next week we hope.

The other side of the building house Republicans.

Are moving further -- from the compromise.

And Republicans are mocking this balanced approach rhetoric that the Democrats are using because of course this budget plan.

Never bounces Martha.

Yeah indeed it does not Mike thank you very much us.

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