Speaker Hastert's Plan to Offset Spending: A Procedural Perspective

Publication Date: October 2005

Publisher: Library of Congress. Congressional Research Service

Author(s):

Research Area: Banking and finance

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Abstract:

Beginning in September 2005, Congress and the President have enacted various measures intended to provide relief to the victims of Hurricane Katrina and Hurricane Rita and to fund reconstruction activities. Legislative efforts in this area are expected to continue this session and into the next. Republican leaders in the House and Senate and others have expressed concern about the impact of these relief and reconstruction efforts on the federal deficit and have indicated that they would develop plans to enact offsets to the relief costs. On October 6, 2005, Speaker of the House J. Dennis Hastert issued a press release on a plan developed by House Republican leaders. The plan (the "Hastert Plan") has four elements, according to the Speaker's press release: