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Referandom Glossary

Pay-As-You-Go (PAYGO)

Budget and Taxalso called Statutory Pay-As-You-Go, Statutory PAYGO, Statutory Pay-As-You-Go Act of 2010

Budget rules that require new laws changing taxes or mandatory spending not to add to the deficit overall. Under the 2010 statutory version, a shortfall at the end of a session triggers automatic cuts unless Congress waives it.

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