News Home
Foxx Introduces Legislation to Protect Taxpayers from Unexpected Mandatory Spending IncreasesFoxx Introduces Legislation to Protect Taxpayers from Unexpected Mandatory Spending Increases
Washington,
September 29, 2016
WASHINGTON – Rep. Virginia Foxx, R-N.C., has introduced legislation that ensures Congress has the opportunity to take action when mandatory programs exceed their cost estimates.
“Washington has a serious spending problem and increases in mandatory spending are the largest cause of our worsening fiscal outlook. These programs often come in significantly over budget and Congress has little ability to address the unexpected spending levels,” said Foxx. “This legislation will protect taxpayers from unexpected mandatory spending increases and make the federal government more accountable.” H.R. 6248 limits future authorizations or reauthorizations of mandatory spending programs to 110 percent of the amount the Congressional Budget Office estimates its cost to be when Congress approves it. Social Security, health, poverty and veterans programs are limited to 120 percent of that cost estimate. If a program reaches its spending limit, the Office of Management and Budget would issue a stop payment order to the Treasury Department to halt that program’s operation until Congress is able to reconsider the program. Reporting requirements included in the legislation ensure Congress has adequate warning that a program may reach its limit so reforms or offsets can be considered before any stop payment order is initiated. U.S. Rep. Virginia Foxx represents North Carolina’s 5th Congressional District and is the elected Republican Conference Secretary. Dr. Foxx is the chair of the House Education and the Workforce Subcommittee on Higher Education and serves as Vice Chair of the House Rules Committee. |