Representative Jeb Hensarling News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Budget Control Act (BCA) is one of the few fiscal controls on spending. Passed in 2011, the BCA was part of a deal to raise the nation’s debt limit while simultaneously cutting and controlling spending to rein in growing budget deficits and stabilize the federal budget. The BCA has been successful at controlling discretionary spending growth and cutting some mandatory spending but has far too often been undermined by the actions of Congress. In fiscal year (FY) 2018, the future of the BCA remains unclear.

The Hensarling draft is a substantial step toward real, market-based reform of housing finance.

Raising the FHA loan limit will short-circuit efforts to create a private-sector guarantee of home mortgages and to restart private mortgage-backed securities.

Hurricane of Entitlements

Congress should renew TPA as it is without adding new conditionsthat open the door to protectionist policies that undermineAmerica's ability to remain a dynamic and dominant player in theglobal economy. Current TPA rules support the development andprotection of effective labor and other economic policies withoutforcing unrealistic and detrimental regulations on developingeconomies.