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The 1990 Budget Package: Redefining the Debate
Author(s) -
Kee James Edwin,
Nystrom Scott V.
Publication year - 1991
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/1540-5850.00891
Subject(s) - entitlement (fair division) , negotiation , enforcement , balanced budget , economics , deficit spending , public economics , budget constraint , law and economics , macroeconomics , political science , law , microeconomics , politics , debt
The debate of budgeting issues in the 1980s culminated in a dramatic change in 1990—the passage of the Omnibus Budget Reconciliation Act. The negotiations leading to this agreement considered the status of the deficit and the philosophical shift from “no new taxes” to “fair taxes.” It led to changes in direct spending, enforcement of budget targets, timing of the budget, sequesters usage, tax increases, and entitlement reforms.