DEMOCRATS IN control of the Senate face a critical first test this week of their professions of fealty to fiscal discipline. Senators are to vote on the fiscal 2008 budget resolution, which sets the parameters for spending and taxes for coming years and, as important, for how budgets will be voted on. Specifically, when lawmakers want to lower certain taxes or increase programs, will they be required to come up with offsetting tax increases or spending cuts?...
The 'Pay-Go' Test
DEMOCRATS IN control of the Senate face a critical first test this week of their professions of fealty to fiscal discipline. Senators are to vote on the fiscal 2008 budget resolution, which sets the parameters for spending and taxes for coming years and, as important, for how budgets will be voted on. Specifically, when lawmakers want to lower certain taxes or increase programs, will they be required to come up with offsetting tax increases or spending cuts?...