H.R. 2041 (112th): Returning to Responsible Fiscal Policies Act

Introduced:
May 26, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Jack Kingston [R-GA1]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on May 26, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced May 26, 2011
Referred to Committee May 26, 2011
Cosponsors
14 cosponsors (14R) (show)
Committees

House Rules

House Budget

The committee chair determines whether a bill will move past the committee stage.

Full Title

To reduce Federal spending in a responsible manner.

Summary

No summaries available.

Text

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Last updated May 26, 2011.
9 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

5/26/2011--Introduced.
Returning to Responsible Fiscal Policies Act - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require:
(1) the Office of Management and Budget (OMB) to estimate the Gross Domestic Product (GDP) outlay limit for the target fiscal year at the outset of the previous fiscal year, on April 30, on August 20, and 15 days after the conclusion of the fiscal year;
(2) the Congressional Budget Office (CBO) to provide advisory reports calculating the GDP outlay limit at identical times; and
(3) a sequestration by OMB within 45 calendar days after the beginning of a fiscal year to eliminate the excess outlay amount.
Prescribes requirements for CBO and OMB advisory sequestration preview reports and an OMB final sequestration report, accompanied by a presidential order detailing the uniform spending reduction.
Requires the House and the Senate budget committees to report a resolution directing their committees to change the existing law to achieve the goals outlined in the OMB August 20 report if it projects a sequestration.
States that if, after November 15, 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 GDP outlay limits in the Gramm-Rudman-Hollings Act to be exceeded. Prescribes procedures for waiver or suspension of this rule.

House Republican Conference Summary

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House Democratic Caucus Summary

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