Senate Adopts Budget Resolution | House Debates PAYGO Rules
The Senate narrowly approved a budget resolution early this morning, by a vote of 51-45. Most Democratic amendments seeking to boost spending for domestic programs and homeland security were defeated. The resolution limits Fiscal Year 2005 discretionary spending to $821 billion, with procedural protection for a five year, $80.6 billion tax cut. It also contains pay-as-you-go (PAYGO) rules to keep revenues and spending in line, which are being currently debated in the House. House deficit hawks have stalled their FY05 resolution in an attempt to insert PAYGO into their version of the bill.