An interesting take on our current fiscal picture. PDF.
Some highlights:
The President is again proposing that the Congress enact a legislative line -item veto to improve the
budget process . Forty -three of the Nation’s governors have a line -item veto , authority that permits
em to identify and eliminate wasteful and unnecessary spending .
From the Nation’ s founding , Presidents have exercised the authority not to spend appropriated
Sums . However , the Congress sought to curtail this authority in 1974 through the Impoundment
Control Act, which restricted the President’ s authority to decline to spend appropriated sums . The
Line -Item Veto Act of 1996 attempted to give the President the authority to cancel spending authority
and special interest tax breaks , but the U .S . Supreme Court found that law unconstitutional. The
resident’s proposal is designed to correct the constitutional flaw in the 1996 Act.
The legislative line -item veto would give the President and the Congress an effective tool to elim-
ate wasteful spending and special interest tax breaks . Under the President’ s legislative line -item
veto proposal, if the Congress were to pass legislation that includes wasteful spending or targeted
x benefits , the President could send back to the Congress the individual items for an up -or -down
vote without amendment under fast -track legislative procedures . If the Congress were to pass the
package of line items that the President proposes for cancellation, all savings would be used for
deficit reduction and could not be used to augment other spending.
Travis
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