A 55-page set of rules for the House that Speaker Kevin McCarthy hopes to pass on Monday will set ambitious new curbs on federal spending, part of the GOP’s effort to stop piling on trillions of dollars in new debt each year.
One of the biggest changes is a return to a “Cut-As-You-Go” policy that says legislation cannot be considered if it increases mandatory spending over a 5- or 10-year period. This “CUTGO” policy requires bills that call for new spending to find offsetting spending cuts elsewhere in the federal budget.
That is a more aggressive stance compared to the “Pay-As-You-Go” policy under Democratic control. “PAYGO” also requires offsets to new spending, but those offsets can either be spending cuts or tax increases – and in either case, PAYGO rules were often waived entirely by Democrats. Read more…
