Friday, February 1, 2013

Congress has passed the "No Budget, No Pay" Act (H.R. 325), which extends the nation's debt ceiling through May 18. As part of the legislation, each chamber is required to pass a budget by April 15 or have its members face a suspension of pay. The temporary postponement of the debt limit allows for Congress to focus on other federal spending issues, including the looming March 1 deadline for the enactment of sequestration cuts and the March 27 expiration of the current continuing resolution, which is keeping the government operational at the previous year's levels.