Senate unveils budget proposal

Senate Democrats unveiled a 2014 budget package Wednesday that raises nearly $1 trillion in new taxes. It will also replace spending cuts that many Republicans are in favor of.

The Senate budget release counters Tuesday's House Republicans budget that would slash funding from programs the president supports and repeal the health care law, now more commonly known as Obamacare.

Wisconsin Democratic Tammy Baldwin, who sits on the Senate Budget Committee, told FOX 11 in a phone interview the Senate's plan will continue economic recovery, keep promises to veterans and seniors and tackle the nation's deficit and debt. Video of the phone interview was provided to FOX 11 by her office.

"We need to get back to an orderly way of handling our nation's budget," said Baldwin.

The plan claims nearly $2 trillion in deficit savings over ten years and roughly $100 billion in new spending on infrastructure improvements. But it also raises nearly $1 trillion in new taxes and replaces Republican-favored spending cuts.

"Their budget will never balance. Not today, not tomorrow, not ever," said Republican Senator and Senate Minority Leader Mitch McConnell in response to the plan.

Janesville Republican Paul Ryan wrote the House's budget proposal. It trims the deficit by $4.6 trillion over ten years, cut taxes for everyone – including the wealthy – and finds savings in Medicaid and Medicare.

"What we believe in this divided government era, we need to put out our vision," said Ryan at a Washington press conference Tuesday.

In response to the House plan, the White House commended Ryan's efforts in putting together the plan – in terms of Ryan and Republican policy priorities.

"But there is no question that the Ryan budget, again, represents a series of policy choices that this president profoundly disagrees with," said White House press secretary Jay Carney.

The budget isn't the only issue before Congress. Lawmakers are also debating increasing the country's borrowing power this summer.

So what might it take to get a budget deal done and a deal on the debt ceiling showdown? Well political experts say it might take a little big of time – something of which politicians have had plenty of.

"I think if the president is given more time to directly communicate with Democrats, with Republicans, I think it's more likely that we'll see a deal on the budget and avoidance of the debt ceiling question," said St. Norbert College political science professor Charley Jacobs.

According to law, the president was supposed to release his budget in early February. The White House says that will now happen in early April.

Republican Senate leaders and the president will meet during lunch at the Capitol Thursday.