Camp blasts extender bill for being fiscally reckless

The bill is expected to cost at least $200 billion, but only $50 billion of that total will be offset, according to Camp.

Aside from extending individual and business tax breaks that expired last year, the bill extends several spending initiatives that Democrats say do not have to be offset since they are considered emergency spending. 

The bill provides relief to the oil spill in the Gulf of Mexico and the recent mining tragedy, as well as an extension for unemployment insurance and COBRA coverage. It also extends funding for summer employment programs, which is expected to cost $1 billion; a one-time capitalization of the National Housing Trust Fund, which adds another $1 billion to the bill’s overall cost; and an extension of the hold-harmless poverty line, estimated to cost $317 million. 

Republicans will surely question why some of these provisions have been deemed emergency spending when the bill is debated on the floor.  A House vote on the bill is expected to occur Friday.