Budget Update -- The Senate Budget Reform Package

You have heard us say it before and we will say it again: Budget rules alone cannot do the heavy lifting required to address the nation's fiscal challenges. One could argue that focusing on budget reform is a diversion from the issues that should be getting Members' attention -- the revenue and spending policy changes to bring the short- and long-term budget back into balance. But given the polarized partisan environment and that it is an election year, improvements to budget process may be the most one can hope for. While bad rules contribute to bad outcomes, and rules that are routinely ignored undermine respect for the budget process, good rules can indeed be helpful.

For the complete Budget Update, please see the attached PDF file.