Democrats Says Senate Will Pass Budget that Increases Taxes

GOP Wants Budget; Schumer Warns they Will Get One (MSNBC)

WASHINGTON (AP) - Democrats are looking to make new revenue part of the Senate's first budget in almost four years, which will be released soon after the start of President Barack Obama's second term.

Obama has pushed for a "balanced approach" to solving the nation's financial woes, including more tax revenue.
Republicans for years have complained bitterly that Senate Democrats last produced a comprehensive budget in 2009 and say that, if Obama and fellow Democrats want to borrow more money, they'll have to outline a spending plan.
Senate Democrats announced Sunday that they will oblige and produce a budget - but warned it will include higher taxes that Republicans oppose.

"We're going to do a budget this year," Schumer said hours before Obama officially began his second term. "And it's going to have revenues in it. And our Republican colleagues better get used to that fact."

The tough talk by Schumer, the number-three Democrat in the Senate, follows House Republicans' announcement last week that they would approve a short-term increase in the nation's borrowing limit without linking that to demands for spending cuts. Democrats called it a step in the right direction but also said the extension should be longer than the three months the GOP is offering.