Setting Government Spending Limits
This bill creates new rules for how the government plans its spending each year. It sets a maximum amount the government can spend on most things, based on economic growth and whether it spent more than it collected previously. This aims to control the growth of government spending over time.
Key points
Creates a yearly limit on most government spending (excluding debt interest).
The limit adjusts based on the economy's growth and past government spending relative to income.
Government officials must follow this limit when making budget decisions.
Allows for temporary increases in the limit for emergencies, but requires future spending cuts to balance it out.
Expired
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