Tomorrow, the U.S. House is expected to reinstate PAYGO budgeting rules -- with teeth.
Under the House rule, any bill, joint resolution, amendment, or conference report affecting direct spending and revenues have the net effect of increasing the deficit or reducing the surplus for either the period comprising the current fiscal year and the five or ten following fiscal years will be out of order.
We have wondered and worried how that would square with House Ways & Means chair Charlie Rangel's imperative, fixing the Alternative Minimum Tax (AMT), among other policy priorities.