H.R. 1383 · 117th Congress
Debt Control Through Budget Reconciliation Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
StewartSponsor3 cosponsors · 3 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill establishes long-term debt limits and a new reconciliation process to enforce the limits.
What it does: CRS summary · Introduced in House · Feb 25, 2021
Debt Control Through Budget Reconciliation Act of 2021
This bill establishes long-term debt limits and a new reconciliation process to enforce the limits.
Specifically, the bill prohibits the estimated amount of debt held by the public from exceeding a specified percentage of the estimated nominal gross domestic product (GDP) for a fiscal year. The bill limits the debt to 101% of GDP for FY2022 and decreases the limit annually until it reaches 50% of GDP for FY2050.
The bill also establishes a new reconciliation process to enforce the limits. Under this process, the congressional budget resolution could direct congressional committees to report legislation to achieve the long-term debt limits. Congress would then be required to consider the legislation using expedited legislative procedures, which limit debate and amendments.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Debt Control Through Budget Reconciliation Act of 2021
Latest action (Feb 25, 2021): Referred to the Committee on Rules, and in addition to the Committee on the Budget, 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.
Policy area: Economics and Public Finance · Origin: House · Introduced: Feb 25, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.