H.R. 4213, The 'Extenders' Bill: Final Version
Still More Spending, Taxes, and Debt
After several iterations of the “extenders” bill, the House today will take a final vote on the ostensibly “trimmed-down” legislation – which still spends $102 billion, more than three times the bill’s magnitude when it passed the House the first time (in December).
Further, the most recent modifications reflect neither thoughtful programmatic changes nor reductions in spending elsewhere in the budget. Two of the major reductions have come from dropping “temporary” extensions of spending that Congress is likely to revisit: a continuation of health insurance subsidies for laid-off workers, and a higher Federal Medicaid contribution to States known as the Federal Medical Assistance Percentage [FMAP]. Other reductions are illusory savings from timing shifts (shortening the length of the program funding extensions), increased taxes, and double-counting $11.8 billion in new taxes for the Oil Spill Trust Fund.
Here are some updated budget facts about the revised American Workers, State, and Business Relief Act of 2010 (H.R. 4213):