Set tax and spending priorities within a five year budget framework instead of using ten-year budget projections to allow for backloaded tax cuts or spending increases
Require all tax or spending initiatives to be fully implemented within the five year budget window
Retire over half of the publicly held debt by 2006
Devote one-quarter of the [non-Social Security] surplus to tax cuts retroactive to 2001, for a net tax cut of $180 billion from 2001-2006
Establish realistic discretionary spending caps which will restrain spending but also provide room to fund new initiatives without relying on unspecified or unrealistic spending.
Source: Blue Dog Coalition letter to the Senate 01-BDC2 on May 9, 2001
Click here for definitions & background information on Budget & Economy.
