S. 1436 · 113th Congress
One Percent Spending Reduction Act of 2013
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
EnziSponsor6 cosponsors · 6 R
6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
One Percent Spending Reduction Act of 2013 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish the aggregate outlay (outlay cap) (less net interest payments) for FY2014 at $3.233 billion, less 1%.
What it does: CRS summary · Introduced in Senate · Aug 1, 2013
One Percent Spending Reduction Act of 2013 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish the aggregate outlay (outlay cap) (less net interest payments) for FY2014 at $3.233 billion, less 1%.
Reduces the outlay cap for FY2015 by 1% of the outlay cap for FY2014.
Requires the outlay cap for FY2016 and each subsequent fiscal year to be 19% of the gross domestic product (GDP) for that fiscal year as estimated by the Office of Management and Budget (OMB).
Prohibits the outlay caps from being less than those for the preceding fiscal year for FY2017 and any ensuing fiscal year.
Requires a sequestration by OMB within 45 days after the beginning of a fiscal year to eliminate any excess outlay amount.
Prescribes requirements for Congressional Budget Office (CBO) and OMB sequestration preview reports and an OMB final sequestration report, accompanied by a presidential order detailing uniform spending reductions equal to the excess outlay amount.
Requires congressional budget committees to report a resolution directing the committees of their respective chambers to change existing law to achieve the spending reductions outlined in the OMB August 20 report to meet the outlay limits, if a sequestration is projected.
States that if, after November 14, a bill resulting in outlays for the current fiscal year is enacted that causes excess outlays, the excess outlays for the next fiscal year shall be increased by the amount or amounts of that breach.
Amends the Congressional Budget Act of 1974 to make it out of order in both chambers to consider any bill, joint resolution, amendment, or conference report that includes any provision that would cause the most recently reported, current outlay cap to be exceeded. Prescribes procedures for waiver or suspension of this rule.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: One Percent Spending Reduction Act of 2013
Latest action (Aug 1, 2013): Read twice and referred to the Committee on the Budget.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: Aug 1, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.