All articles tagged with #spending cap
Despite the implementation of a new spending cap and oversight measures for college football, schools are already exceeding limits through various workarounds, with player salaries and NIL deals reaching new heights, indicating that the 'market correction' promised by regulators is not yet materializing.
President Joe Biden and Republican House Speaker Kevin McCarthy have agreed on a deal to temporarily suspend the debt ceiling and cap some federal spending until Jan. 1, 2025. The deal would boost total defense spending to $886 billion, in line with Biden's 2024 budget spending proposal, and shift $10 billion in each of calendar years 2024 and 2025 in funding away from the Internal Revenue Service. The estimated amount of unused Covid relief funds is between $50 billion and $70 billion, and the new bill would require the Biden administration to follow through with a plan to end the current pause on student loan repayments by late August. The agreement would impose new work requirements on some low-income people who receive food assistance under the program known as SNAP up to age 54, instead of up to age 50.