House Conservatives Propose Spending Cap

The conservative Republican Study Committee (RSC) has promised to “cut, cap and balance” federal spending. And several members have proposed a bill to do just that, The Hill reports.

House Appropriations Committee member Jack Kingston of Georgia offered the bill Friday. It calls for a cap on spending at 18 percent of GDP. RSC Chairman Rep. Jim Jordan of Ohio endorsed the bill, and Kingston’s appropriations committee colleagues Jeff Flake of Arizona and Tom Graves of Georgia did so, too.

“It’s simple, spend what you take in,” Jordan said at a news conference Friday. “What the RSC is bringing forward is a cut, cap and balance approach. Cut spending significantly in 2012, cap spending in the mid-term, and long-term do a balanced budget that will actually be a game changer.”