Tags: US | Congress | Deficit | Curbs

House Adopts Tougher Deficit Curbs

Thursday, 04 Feb 2010 04:33 PM

Congress has adopted new budget curbs to try to make it harder to run up the U.S. deficit with new tax cuts or federal benefit programs.

The Democratic-backed plan would make it more difficult to permanently extend some tax cuts that expire at the end of this year and means that new revenues or spending cuts would have to "pay for" much of President Barack Obama's proposed jobs bill.

The measure passed the House Thursday by a 233-187 vote. It attempts to curb the spiraling budget deficit by requiring spending increases or tax cuts to be "paid for" with cuts to other programs or tax increases.

Obama will sign the rules into law as part of legislation to allow the government to increase its limit on issuing new debt by $1.9 trillion.

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Economy
Congress has adopted new budget curbs to try to make it harder to run up the U.S. deficit with new tax cuts or federal benefit programs.The Democratic-backed plan would make it more difficult to permanently extend some tax cuts that expire at the end of this year and means...
US,Congress,Deficit,Curbs
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2010-33-04
Thursday, 04 Feb 2010 04:33 PM
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