Book Description

This report provides the status of overall discretionary spending and pay-as-you-go legislation based on Congressional action to date. The overall discretionary spending caps expired on September 30, 2002. Although category caps still exist for transportation and environmental conservation activities, there currently are no BEA mechanisms in place for their enforcement. The pay-as-you-go requirement for revenue and mandatory spending legislation also expired at the end of 2002. while the BEA called for OMB to make annual reductions in Medicare, farm programs, student loans, and other programs through 2006 to offset the deficit effects of bills enacted prior to its expiration, the recently enacted P.L. 107-312 effectively repealed this requirement.