Senators John McCain (R-AZ) and Thomas Carper (D-DE) have joined efforts in yet another bipartisan pairing, this time to enable enhanced rescission authority for the President in order to restrain spending. Last week we saw senators reach across the aisle to propose reforms for biennial budgeting and discretionary spending caps.
Budget Season Ramping Up – Football season may have ended last night, but budget season is just heating up. Lawmakers have introduced a plethora of bills in order to show voters that they are serious about addressing our fiscal problems. Expect that trend to continue, but pressure will increase for real action.
With the House Appropriations Committee releasing their spending allocations for each subcommittee yesterday, it is useful to examine what the Senate Appropriations Committee, which is still chaired by Senator Daniel Inouye (D-HI), wanted to do with last year's failed Omnibus spending package -- wrapping all 12 appropriation bills into one.
The debate over a Constitutional balanced-budget amendment has been going on in Washington for quite some time. However, the current fiscal environment and several proposals in both chambers of Congress this early in the new session mean that the idea could garner lots of attention, and votes, this year.
The Senate Budget Committee held a hearing on tax reform this morning, featuring testimony from four witnesses who all unequivocally called for fundamental reform to our tax code.
On Monday, Senator Tom Coburn (R-OK) sent a letter to the Chief of Naval Operations calling for the Pentagon to get its finances in order in the face of elevated budget scrutiny. Although many politicians view defense spending as sacrosanct -- particularly on Senator Coburn's side of the aisle -- there is a growing consensus that the defense budget must be brought under control.
Another bipartisan group of Senators is introducing legislation to promote fiscal reform. Recently we saw Senators Jeanne Shaheen (D-NH) and Johnny Isakson (R-GA) work together in support of biennial budgeting.
Late last week, Senators Johnny Isakson (R-GA) and Jeanne Shaheen (D-NH) introduced legislation to revamp our budgeting process from an annual to a biennial process. Sen. Isakson has introduced this legislation each year since 2005, when he first came to the Senate, and Sen. Shaheen managed biennial budgets during her time as governor of New Hampshire, which has long utilized biennial budgets. The bipartisan bill (S.
Game On – The Super Bowl in Texas won’t be until Sunday, but Washington had its own big game last week as President Obama gave his State of the Union address.