New Rules for Government Spending During High Inflation
This proposed law aims to limit the ability to increase the budget deficit through non-defense spending when inflation is high. This means the government will find it harder to spend money on non-defense areas if prices are rising rapidly, potentially affecting the availability of some public programs.
Key points
Introduces a rule making it harder to pass laws that increase the budget deficit in non-defense areas when inflation exceeds 8%.
This rule aims to control public spending during periods of rapid price increases, potentially impacting the nation's financial stability.
These restrictions can only be waived by a two-thirds vote in the Senate.
Status:
Expired
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