tsai3904
01-21-2013, 11:17 AM
Full text:
http://docs.house.gov/billsthisweek/20130121/BILLS-113hr-PIH-DebtLimit201305.pdf
Summary:
-Debt ceiling is suspended until May 18
-On May 19, debt ceiling is raised to the amount the Treasury borrowed (limited to obligations already incurred) from the passing of the bill to May 18
-If by April 15, a House of Congress has not passed a budget, the salaries of that body will be put in escrow and paid out when that body passes a budget or the last day of the 113th Congress
House Republicans are making this out to be "No Budget, No Pay" but in reality, no Member of Congress will lose a dime. All of the salary they would have earned will be paid out when a body of Congress passes a budget or the last day of the 113th Congress. This bill does not have any spending cuts, tax reform, or entitlement reform.
http://docs.house.gov/billsthisweek/20130121/BILLS-113hr-PIH-DebtLimit201305.pdf
Summary:
-Debt ceiling is suspended until May 18
-On May 19, debt ceiling is raised to the amount the Treasury borrowed (limited to obligations already incurred) from the passing of the bill to May 18
-If by April 15, a House of Congress has not passed a budget, the salaries of that body will be put in escrow and paid out when that body passes a budget or the last day of the 113th Congress
House Republicans are making this out to be "No Budget, No Pay" but in reality, no Member of Congress will lose a dime. All of the salary they would have earned will be paid out when a body of Congress passes a budget or the last day of the 113th Congress. This bill does not have any spending cuts, tax reform, or entitlement reform.