July 18 (UPI) -- The House Budget Committee on Tuesday released its 2018 budget proposal, which seeks to increase defense funding and make about $200 billion in cuts to social welfare programs.
The panel said the "Building a Better America" plan balances the budget within 10 years by cutting spending, reforming government and growing the economy.
The committee, led by Chairman Diane Black, R-Tenn., said the budget would reduce the total deficit by $6.5 trillion -- and produce a $9 billion surplus in 10 years.
The Republican-led HBC set overall discretionary spending for 2018 at $1.13 trillion -- including $621.5 billion in discretionary defense spending, which includes funds for President Donald Trump's proposed border wall with Mexico, and $511 billion in non-defense discretionary spending.
The HBC budget would remove $203 billion in spending for social safety programs, such as Medicare and food stamps. The plan also calls for a change to the disability insurance program to prevent recipients from simultaneously collecting unemployment benefits.
In the proposal, the HBC assumes $204 billion in deficit reduction over a decade from the passage of the House bill to repeal and replace former President Barack Obama's Affordable Care Act -- though efforts to replace the signature healthcare law ended late Monday and Republican Senate leadership now aims to just repeal the ACA.''
The budget proposal also sets the stage for Trump's expected sweeping tax reforms.
"For too long, the federal government's excessive spending has put future generations at risk," the HBC said in a statement Tuesday. "Massive tax increases or crippling austerity measures are the natural conclusion of our current rate of spending, and future generations will pay the price. Failure to take swift and decisive action is not only inexcusable, it is immoral."
The commission will vote on the proposed budget on Thursday.