What is the debt limit? Q.What is the debt limit? A.The debt limit—or the “debt ceiling”—is the legal maximum on how much debt the federal government can accumulate. Read more about What is the debt limit?
What are rescissions? Q.What are rescissions? A.The rescission process allows a president to avoid spending money on discretionary programs that has been appropriated by the Congress, but not yet obligated for the purchases of goods and services. Read more about What are rescissions?
What is reconciliation? Q.What is reconciliation? A.Congressional budget committees use the reconciliation process to ensure tax laws and mandatory spending programs are revised according to the budget resolution’s revenue and mandatory spending targets. Reconciliation is a way to fast-track revenue and spending legislation into becoming law. Read more about What is reconciliation?