February 28, 2006
The House of Representatives narrowly passed the Deficit Reduction Act of 2005 by a vote of 217-215 in the early morning of Nov. 18, 2005. According to the House Budget Committee, the Act will provide savings of approximately $50 billion, drawn from multiple mandatory spending programs including child support enforcement, Medicaid, Supplemental Security Income and the largest ever federal spending decrease in student aid. More than one-third of these savings,...read more...
