Rep. Scott Rigell (R-Va.) has proposed legislation that would replace 75 percent of the sequester cuts scheduled under current law with a mix of reforms in “mandatory” spending programs and additional revenue from limiting certain tax breaks.
“In the aftermath of the bipartisan budget agreement, ideas like those in the Rigell plan could serve as models for long-term, bipartisan fiscal reform efforts in Congress,” says Phil LaRue, director of government relations for The Concord Coalition, in a new blog post.
Rep. Scott Rigell (R-Va.) has proposed legislation that would replace 75 percent of the sequester cuts scheduled under current law with a mix of reforms in “mandatory” spending programs and additional revenue from limiting certain tax breaks.
“In the aftermath of the bipartisan budget agreement, ideas like those in the Rigell plan could serve as models for long-term, bipartisan fiscal reform efforts in Congress,” says Phil LaRue, director of government relations for The Concord Coalition, in a new blog post.
According to Congressional Budget Office estimates, the legislation — named the America First Act — would save $2.5 trillion over the next decade with a 3-to-1 ratio of spending cuts to revenue increases, including reforms to Social Security and Medicare.
LaRue says the latest 2-year budget agreement offers elected officials an opportunity “to foster a larger discussion on the fiscal health of the country.” Rigell’s bill could help stimulate that discussion.
