US SB1990 | 2021-2022 | 117th Congress

Status

Spectrum: Partisan Bill (Republican 10-0)
Status: Introduced on June 9 2021 - 25% progression
Action: 2021-06-09 - Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S4019-4020)
Pending: Senate Homeland Security And Governmental Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Establishes various budget enforcement procedures to address the federal debt. The procedures established by the bill take effect during any fiscal year that follows a fiscal year in which the amount of federal debt exceeded the gross domestic product (GDP) for that fiscal year. During such a period, the bill rescinds unobligated balances of stimulus spending that was provided in specified bills that addressed the impact of COVID-19, establishes a point of order against legislation that increases spending, and requires Congress to consider certain deficit reduction measures using specified expedited legislative procedures. The expedited legislative procedures must be used for legislation that (1) would reduce the deficit by at least 5% during the 10-fiscal-year period following the current fiscal year, and (2) does not increase the rate of any federal tax or increase any fee paid to the federal government.

Tracking Information

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Title

Federal Debt Emergency Control Act of 2021

Sponsors


History

DateChamberAction
2021-06-09SenateRead twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S4019-4020)

Same As/Similar To

HB4869 (Same As) 2021-07-30 - Referred to the Committee on Rules, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Subjects


US Congress State Sources


Bill Comments

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