The Spending Safeguard Act would set spending limits for certain direct spending programs enacted or renewed after the act becomes law. It applies to programs without a specific dollar amount of authorized spending, but excludes Medicare and Social Security. The limit would be 120% of a program’s estimated six-year cost for certain budget areas, including defense, health, income security, and veterans’ benefits. For other budget areas, it would be 110%. The Office of Management and Budget would publish spending scorecards, and agencies would notify program participants that future funds may be affected. If a program reaches its limit, new funds could no longer be obligated after 30 days.
If you take part in a program covered by the act, the agency would have to tell you that reaching the spending limit may affect future funding. The text does not identify specific programs or say how any individual’s benefits would be affected.
The act authorizes no additional funds to carry it out. It sets limits based on each covered program’s estimated six-year cost.
No publicly available information.
No publicly available information.