GovTrack’s Bill Summary
We don’t have a summary available yet.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Fiscal Responsibility and Spending Control Act - Expresses the sense of the Senate that Congress should:
(1) address the rising national debt and long-term fiscal challenges through a bipartisan agreement that significantly corrects our nation's long-term fiscal imbalances, closes the gap between projected revenues and expenditures, ensures U.S. economic security, and enhances future prosperity and growth;
(2) reduce the deficit and stabilize the national debt without damaging the economic recovery;
(3) consider deficit reduction proposals by leading budget experts and establish a plan that can attract broad bipartisan support;
(4) ensure that any plan to address long-term fiscal problems is balanced and provides fundamental reform of the federal tax code along with prudent controls on spending;
(5) eliminate tax expenditures that only serve special interests and take aggressive measures to close the tax gap and stop cheating;
(6) ensure that the tax code fairly distributes the tax burden and helps American businesses compete in the global marketplace;
(7) extend the solvency of Social Security and ensure that no savings are used to meet deficit reduction goals in the remainder of the budget;
(8) achieve savings through the elimination or consolidation of duplicative programs and activities while modernizing government procurement practices to reduce waste and leverage better value; and
(9) reject efforts to exempt tax breaks for millionaires and special interests from strong pay-as-you-go budgetary rules.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.