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Watch live: Senate Democrats hold press briefing

Senate Majority Leader Charles Schumer (D-N.Y.) along with Senate Democratic leadership on Wednesday afternoon are slated to hold a press briefing on recent GOP budget proposals.

Senate Republican Leader Mitch McConnell (Ky.) on Tuesday called for increases to defense spending, saying it was necessary to combat international threats such as Russia and China.

The event is scheduled to begin at 12:15 p.m. ET.

Watch the live video above.