The Murray-Ryan budget compromise cleared all of the Congressional hurdles this week, capping off a tumultuous negotiation process that began after the government shutdown earlier in the year. In this week's edition of the Taxpayer's Tab, National Taxpayers Union Foundation has a detailed breakdown of what exactly is in the bill, as well as some of the other deficit-reduction options that Congress left on the table.
The compromise bill:
- Increases federal spending by $65 billion (75 percent of which will be seen in the first two years alone);
- Raises the self-imposed budget caps Congress recently agreed on;
- Offsets additional spending by $78 billion -- but 75% of that amount won't be realized for another six to ten years;
- Accounts for half of its proposed savings by way of increased user fees.
Congress did, however, have other options for budget cuts throughout the year. A list of all the savings bills we identified as part of the BillTally research program is available for browsing and download in this week's edition.