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The Deficit Reduction Act of 2005 [1] is a United States Act of Congress concerning the federal budget that became law in 2006. Legislative history
The National Commission on Fiscal Responsibility and Reform (often called Simpson–Bowles or Bowles–Simpson from the names of co-chairs Alan Simpson and Erskine Bowles; or NCFRR) was a bipartisan Presidential Commission on deficit reduction, [1] created in 2010 by President Barack Obama to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal ...
The Deficit Reduction Act may refer to various pieces of United States legislation, including: Deficit Reduction Act of 1984;
The Omnibus Budget Reconciliation Act of 1993 (or OBRA-93) was a federal law that was enacted by the 103rd United States Congress and signed into law by President Bill Clinton on August 10, 1993. It has also been unofficially referred to as the Deficit Reduction Act of 1993. Part XIII of the law is also called the Revenue Reconciliation Act of ...
The Act provided for a Joint Select Committee on Deficit Reduction (the "super committee") to produce legislation by late November that would decrease the deficit by $1.2 trillion over ten years. When the super committee failed to act, [9] another part of the BCA went into effect. This directed automatic across-the-board cuts (known as ...
The tax cuts signed into law in 2017 never fulfilled Trump's promises on deficit reduction. According to the Office of Management and Budget, the deficit worsened to $779 billion in 2018.
The Inflation Reduction Act of 2022 (IRA) is a United States federal law which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy.
The Inflation Reduction Act (IRA) passed in 2022, which included allocating billions of dollars towards investments related to renewable energy sources. But the future of such policies remains ...