Number: RS21378
Title: Termination of the Pay-As-You-Go (PAYGO) Requirement for FY2003 and Later Years
Authors: Robert Keith, Government and Finance Division 
Abstract: In order to prevent a sequester for FY2003 due to net costs on the PAYGO scorecard of more than $127 billion, the House and Senate passed H.R. 5708 in November 2002, signed by President Bush on December 2 at P.L. 107-312. The act instructed the director of the Office of Management and Budget to set the balances for all years on the PAYGO scorecard to zero, thereby preventing a PAYGO sequester for FY2003 and each year thereafter through FY2006. A total of $560 billion was removed from the PAYGO scorecard for FY2002-2006.
Pages: 6
Date: Updated December 31, 2002