HOUSE RULES COMMITTEE MEETS ON FISCAL RESPONSIBILTY ACT, May 30, 2023, DC, 3:00 pm ET

The House Rules Committee will meet on May 30, 2023 at 3:00 pm ET in H-313 Capitol to formulate the rule to accompany H.R. 3746, the Fiscal Responsibility Act of 2023.

H.R. 3746 would suspend the debt limit until January 1, 2025 (after the presidential and congressional elections) and limit federal spending in FY2024 to FY2023 levels with only a 1 percent increase allowed for FY2025.  Defense and veterans medical care spending is exempted from the limits, so the budget cuts needed to meet the required spending threshold will fall more heavily on non-defense agencies like NASA, NOAA and the FAA.

The Rules Committee will consider amendments to the bill and write the rule for House consideration of the legislation, but could also prevent the bill from being considered by the House at all. The committee has 9 Republicans and 4 Democrats. Some of the Republican members are strongly opposed to the bill because the spending cuts are not deep enough.

If it does clear committee, it is expected to be voted on by the full House tomorrow (May 31).