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Search Tags: House Budget Committee
House Budget Committee Chairman Paul Ryan (R-Wis.) asked auditors to review five different areas of sequestration. The Government Accountability Office will examine the actual sequestration order, as well as the July 31 memo to agencies from the Office of Management and Budget. He also wants GAO to look at any supporting reports, regulations and orders for compliance with the Budget Control Act, the Balanced Budget and Emergency Deficit Control Act, and other relevant statutes.
Congress is demanding more answers about how $1.2 trillion in budget cuts set to take effect in January will be applied across the government. The House Budget Committee Wednesday unanimously approved a bill directing the Obama administration to provide Congress a report that provides specific details about how the spending cuts will affect federal agencies and programs. Meanwhile, the House Armed Services Committee formally requested that the head of the Office of Management and Budget, Jeff Zients, testify before the committee on the "mechanics and impact" of the automatic cuts.
Mitt Romney's vice-presidential nominee, Rep. Paul Ryan (R-Wis.), was the main architect of a budget plan that would slash federal benefits and would extend the pay freeze.
Rep. Chris Van Hollen (D-Md.) introduced "Making It in America," the Democratic budget proposal that calls for an end to the sequester while preserving the Medicare guarantee. Unlike the other proposals under consideration, this proposal does not call for an extension of the federal pay freeze or an increase in feds' contributions to their retirement funds.
The House Budget Committee approved a Republican proposal that calls for shrinking U.S. deficits to $3.1 trillion over the coming decade. The budget bill also calls for a 10 percent reduction of the federal workforce, an extension of the federal pay freeze and an increase of federal employees' contributions to their pension plans.
Tom Cole (R-Okla.) and Earl Blumenauer (D-Oreg.), both members of the House Budget Committee, reflect on budget talks so far.
The sales pitch has begun on the budget, as OMB Director Peter Orszag and others head to Capitol Hill to talk it up.