House GOP spending plan sets sights on reduced funding for health overhaul, other Obama initiatives

News outlets report that House Republican appropriators are working to undo parts of the health law by advancing steep funding cuts.

The New York Times: House Bill Takes A Scythe To Spending
Financial regulators would lose hundreds of millions of dollars needed to implement the new Wall Street regulatory law. The Internal Revenue Service's budget would not be increased, with a prohibition on cash transfers to implement the health care law. … Quietly, the House Appropriations Committee is working hard to undo much of the president's first-term ambitions -; or at least provoke a showdown with the White House ahead of the fall election (Weisman, 6/5).

CQ HealthBeat: Spending Plan Targets Health Care, Financial Regulatory Overhauls
House Republicans, renewing their attack on major Obama administration initiatives, released a spending plan Tuesday that would sharply reduce backing for the 2010 health care and financial regulatory overhauls. The House Appropriations Committee fiscal 2013 draft of a $21.2 billion Financial Services bill has many of the same funding limitations and policy restrictions GOP lawmakers previously sought, almost certainly setting up a fight with Democrats. The Financial Services Appropriations Subcommittee is set to consider the measure Wednesday (Weyl, 6/5).