When the Budget Control Act was signed into law in 2011, it first established an original spending cap baseline, along with a joint Congressional committee to come up with some kind of trillion -
dollar grand bargain to further reduce deficits.
The duo characterized their proposal as a «
grand bargain» that would silence the concerns of detractors — mainly, the Senate Republicans — that a public campaign finance system would be too expensive and should not be funded with taxpayer
dollars.