H.R. 1605 (112th): CAP Act of 2011

Introduced:
Apr 15, 2011 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
John “Jimmy” Duncan Jr.
Representative for Tennessee's 2nd congressional district
Party
Republican
Text
Read Text »
Last Updated
Apr 15, 2011
Length
10 pages
Related Bills
S. 245 (identical)

Referred to Committee
Last Action: Feb 01, 2011

H.R. 2041 (Related)
Returning to Responsible Fiscal Policies Act

Referred to Committee
Last Action: May 26, 2011

 
Status

This bill was introduced on April 15, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 15, 2011
Referred to Committee Apr 15, 2011
 
Full Title

To reduce Federal spending in a responsible manner.

Summary

No summaries available.

Cosponsors
8 cosponsors (7R, 1D) (show)
Committees

House Rules

House Budget

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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.


4/15/2011--Introduced.
Commitment to American Prosperity Act of 2011 or CAP Act of 2011 - 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.
Allows total federal outlays to exceed the GDP outlay limit if during the fiscal year the excess amount is being paid to reduce the public debt or the public debt is zero.
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

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

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