House to advance bill busting federal spending caps


(Worthy News) – House lawmakers are poised to advance a two-year break from federal spending caps imposed by a 2011 law that sought to reduce the debt.

House Budget Committee Chairman John Yarmuth, D-Ky., introduced the measure Tuesday and said his panel will vote to advance it Wednesday. A House vote could come next week, Majority Leader Steny Hoyer, D-Md., said.

The measure would lift the domestic spending limit by 5.7 percent, to $631 billion in fiscal 2020 and to $646 billion in fiscal 2021. The measure would raise defense spending by 2.6 percent over the current cap, to $664 billion in 2020. Defense spending would be limited to $680 billion in fiscal 2021. [ Source: Washingon Examiner (Read More…) ]

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