House Republicans Announce Plan to Limit Budget Growth to 1%

As reported by, House Republicans prepared to offer amendments to the fiscal 2015 budget plan approved by the House Appropriations Committee as it was debated on the House floor today. The Republican budget plan would limit growth in the budget to 1% and avoid the use of pension reinvestment funds.

House GOP estimated the move would net savings of more than $300 million, enough to restore $200 million in cuts to pension payments.

In addition to restoring pension funds, the Republicans’ proposed a reduction in spending growth would provide some cushion in case of later fiscal shortfalls, according to the caucus.

The House of Delegates passed the budget today on second reader as approved by the House Appropriations Committee and third reader debate is scheduled for tomorrow.
Additional coverage of the Republican budget plan can be found in the following publications: