Sending Funding Measure to Full Committee
Senate Allocates over $88 Billion While House Allocates over $65 Billion
Over the Memorial Day weekend, President Biden and House Speaker Kevin McCarthy announced the Bipartisan Budget Agreement to raise the debt ceiling. This morning, the U.S. House of Representatives released the Fiscal Responsibility Act of 2023, which would raise the debt ceiling until 2025. According to news media reports, the Fiscal Responsibility Act of 2023 includes the following:
On Tuesday, the Office of Management and Buget (OMB) released a memo stating that House Republicans would have to slash spending for all other federal agencies by 30 percent next year if they would like to protect or see an increase in defense spending. The memo states that a 30 percent cut would eliminate funding for Housing Choice Vouchers for over 800,000 households, including 250,000...