Provisions in the House rules package for the 118th Congress are poised to undercut fiscal constraints in the budgeting process, a budget hawk group claimed.
."The House rules package would permit more borrowing by allowing tax cuts to be added to the debt and by making it more difficult to raise taxes — one of the ways to help reduce the deficit."
Congress convened Monday to mull the rules package that was used to help win over GOP holdouts who initially bilked at McCarthy's speakership endeavor. One provision calls for the top-line discretionary budget figure in 2024 not to surpass levels in 2022, risking drastic cuts of up to nearly $75 billion to defense spending, theInstead, Congress should have imposed"any limits on new spending on top of limits on new borrowing," MacGuineas insisted.
"Aside from the rules package itself, we are encouraged that Members are preparing to focus more on excessive deficits this Congress. However, they must be careful to select achievable fiscal metrics and must work toward accomplishing such fiscal goals without threatening the full faith and credit of the United States," she added.Members of the House Freedom Caucus had badgered McCarthy for stronger measures on reining in debt during tense negotiations for his speakership.
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