The agreement, announced by President Donald Trump and Democratic congressional leaders on Monday, would suspend the federal debt ceiling until July 31, 2021, and raise overall spending levels by 320 billion U.S. dollars above the limits set in the Budget Control Act of 2011, which aims to cut spending for federal agencies totaling 1.2 trillion dollars during a decade.
The Budget Control Act of 2011 was once considered a victory for Republicans under the Obama administration, as it set strict spending caps and stipulated automatic across-the-board spending cuts, which has been opposed by the Democrats.
The newly reached deal would lift the budget cap for discretionary spending to 1.37 trillion dollars in 2020 and 1.375 trillion dollars in 2021, expanding defense outlays, demanded by Republicans, and boosting domestic spending, including health care for veterans, sought by Democrats.
"This was a real compromise in order to give another big victory to our Great Military and Vets (veterans)," the U.S. president tweeted on Monday.
Taxpayers for Common Sense said it's a compromise in the sense that the White House got some of what it wanted and Democratic leadership in the House got some of what they wanted. "But it was additive, rather than looking for the most efficient way to meet goals," the group noted.
The expected growing debt burden in the coming years, the group said, is on top of the nearly 2 trillion dollars the last Congress added to the debt by passing a 10-year "deficit-financed" tax cut and another budget cap boost that wasn't offset.
【国际英语资讯:Spotlight: Debt ceiling and budget deal draws backlash from advocacy groups】相关文章:
★ 海尔柯贝斯2
最新
2020-09-15
2020-09-15
2020-09-15
2020-09-15
2020-09-15
2020-09-15