S. 1990 · 117th Congress
Federal Debt Emergency Control 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
ScottSponsor9 cosponsors · 9 R
R
Blackburn
JB
R
Barrasso
MB
R
Braun
TC
R
Cruz
JE
R
Ernst
RJ
R
Johnson
CL
R
Lummis
TT
R
Tuberville
JL
R
Lankford8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill establishes various budget enforcement procedures to address the federal debt.
What it does: CRS summary · Introduced in Senate · Jun 9, 2021
Federal Debt Emergency Control Act of 2021
This bill 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Federal Debt Emergency Control Act of 2021
Latest action (Jun 9, 2021): Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S4019-4020)
Policy area: Economics and Public Finance · Origin: Senate · Introduced: Jun 9, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.