WASHINGTON, May 18 (UPI) -- After weeks of wrangling, House and Senate Republican leaders have agreed on a one-year budget plan that excludes popular tax cuts from budget limitations.
Budget negotiators have agreed to a deal whereby the so-called pay-as-you-go rule that requires Congress to pay for all tax breaks and spending increases in the budget, a main sticking point, are included.
The Senate version of the 2005 budget resolution had included a permanent enactment of pay-go rules.
Under the deal, three expiring tax cuts would remain exempt from the requirements under the deal.
The bill, which establishes the rule for the annual appropriations process, is expected to be approved by both the House and Senate by week's end.
Critics of the compromise contend that a one-year pay-go limit does little to change the nation's fiscal picture as it does not limit future deficit spending.
