The Omnibus Budget Reconciliation Act

The Omnibus Budget Reconciliation Act (OBRA) is a law aimed at reducing federal budget deficits by making changes to various government spending programs and revenue policies. Passed in 1990 and subsequently amended, it addresses areas like healthcare, welfare, and taxes. OBRA includes provisions to cut spending, reform entitlement programs like Medicare and Medicaid, and adjust tax rates. Essentially, it aimed to balance the budget by carefully managing how taxpayer dollars are spent and ensuring that government programs remain financially sustainable.