Top House Republican leaders unveiled a 2012 budget proposal Tuesday that would cut $6.2 trillion in federal spending over the next decade while radically overhauling Medicare and Medicaid -- two hugely popular entitlement programs that have long been considered politically untouchable.
The proposal, drafted by Budget Committee Chairman Paul Ryan, R-Wisconsin, would also overhaul key portions of the tax code, dropping the top rate for individuals and businesses to 25% while eliminating a number of loopholes.
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