U.S. Senate Democrats' budget seeks $1.85 trln in savings-source

WASHINGTON, March 12 (Reuters) - Democrats on Wednesday will unveil a U.S. budget blueprint that attempts to slice federal deficits by $1.85 trillion over 10 years through an equal mix of spending cuts and tax increases on the rich, according to a Democratic source.

The fiscal plan, which will be debated by the Senate Budget Committee this week, is the Democrats' answer to a Republican budget set forth in the House of Representatives that claims to reach balance in 10 years through deep cuts to domestic programs and without any tax increases beyond those approved on Jan. 1.