Politics & Government
College Park Weighs in on Debt Ceiling Debate: Part 2
Congress just passed a plan that raises the debt ceiling, cuts spending, and introduces no new tax hikes. What does College Park have to say about the deal and threat of default?
The House of Representatives passed legislation Monday night that will save the country $2.1 trillion over the next decade, The Washington Post reports.
The Senate is set to vote on the Budget Control Act Tuesday, and President Barack Obama is expected to sign the bill before midnight in order to meet the Treasury's deadline to raise the debt ceiling, according to The Post.
Included in the legislation:
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- No tax hikes
- Debt ceiling will be raised through 2012
- Upfront budget savings of $917 billion
- Savings of $2.1 trillion over a decade
- Sharp spending cuts
- Caps on discretionary spending through 2021
- Requirement for House and Senate to vote on a joint resolution proposing a balanced budget amendment to the Constitution
Read The Washington Post for more details about what the bill includes, and to watch a video of the surprise return of Democratic Rep. Gabrielle Giffords of Arizona - the first time she's appeared in Congress since being shot in the head in January.
In mid-July, residents from College Park and surrounding communities , and for a town hall on July 22, devoting much of the discussion to the debt debate in the District.
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