S. 1253 · 117th Congress
Maximizing America’s Prosperity 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
BraunSponsorNo cosponsors.
This bill establishes annual spending limits that are equal to specified percentages of potential gross domestic product (GDP). Potential GDP generally refers to the GDP that would occur if the economy were at full employment without inflation. The spending limits apply to all budget authority and outlays of the federal government excluding net interest.
What it does: CRS summary · Introduced in Senate · Apr 20, 2021
Maximizing America's Prosperity Act of 2021
This bill establishes annual spending limits that are equal to specified percentages of potential gross domestic product (GDP). Potential GDP generally refers to the GDP that would occur if the economy were at full employment without inflation. The spending limits apply to all budget authority and outlays of the federal government excluding net interest.
The bill establishes procedures for enforcing the spending limits, including requirements for sequestration (i.e., automatic spending cuts) and for the President's budget and congressional budget resolutions to comply with the limits.
The bill also requires at least 1% of total discretionary spending for each year to be reserved for emergencies.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Maximizing America’s Prosperity Act of 2021
Latest action (Apr 20, 2021): Read twice and referred to the Committee on the Budget.
Policy area: Economics and Public Finance · Origin: Senate · Introduced: Apr 20, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.