3.0.0 1383 2023-03-08T19:58:55Z 2023-03-08T19:58:55Z House HR 2021-02-25 117 [Congressional Record Volume 167, Number 36 (Thursday, February 25, 2021)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. STEWART:H.R. 1383.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1, Clause 2 & Clause 3[Page H732]]]> hsbu00 Budget Committee House Standing Referred to 2021-02-25T15:07:00Z hsru00 Rules Committee House Standing Referred to 2021-02-25T15:06:50Z 2021-02-25 Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsbu00 Budget Committee 2021-02-25 Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsru00 Rules Committee 2021-02-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2021-02-25 Introduced in House IntroReferral 1000 9 Library of Congress S001192 Rep. Stewart, Chris [R-UT-2] Chris Stewart R UT 2 N O000086 Rep. Owens, Burgess [R-UT-4] Burgess Owens R UT 4 2021-02-25 True C001114 Rep. Curtis, John R. [R-UT-3] John Curtis R UT R. 3 2021-02-25 True F000446 Rep. Feenstra, Randy [R-IA-4] Randy Feenstra R IA 4 2021-02-25 True Economics and Public Finance Budget deficits and national debt Budget process Congressional committees Congressional operations and organization House of Representatives Legislative rules and procedure Performance measurement Senate Economics and Public Finance 00 2021-02-25 Introduced in House 2022-04-13T13:42:06Z Debt Control Through Budget Reconciliation Act of 2021

This bill establishes long-term debt limits and a new reconciliation process to enforce the limits.

Specifically, the bill prohibits the estimated amount of debt held by the public from exceeding a specified percentage of the estimated nominal gross domestic product (GDP) for a fiscal year. The bill limits the debt to 101% of GDP for FY2022 and decreases the limit annually until it reaches 50% of GDP for FY2050.

The bill also establishes a new reconciliation process to enforce the limits. Under this process, the congressional budget resolution could direct congressional committees to report legislation to achieve the long-term debt limits. Congress would then be required to consider the legislation using expedited legislative procedures, which limit debate and amendments.

]]> Debt Control Through Budget Reconciliation Act of 2021 Display Title Debt Control Through Budget Reconciliation Act of 2021 Official Title as Introduced To amend the Congressional Budget and Impoundment Control Act of 1974 to provide for long-term debt limits, and for other purposes. Introduced in House IH Short Title(s) as Introduced Debt Control Through Budget Reconciliation Act of 2021 Introduced in House IH Introduced in House 2021-02-25T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr1383ih/xml/BILLS-117hr1383ih.xml 2021-02-25 Referred to the Committee on Rules, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.