3.0.0 1990 2022-12-30T21:30:53Z 2022-12-30T21:30:53Z Senate S 2021-06-09 117 ssga00 Homeland Security and Governmental Affairs Committee Senate Standing Referred to 2021-06-09T19:36:06Z Federal Debt Emergency Control Act of 2021 117 4869 HR 2021-07-30 Referred to the Committee on Rules, and in addition to the Committee on Appropriations, 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. Identical bill CRS 2021-06-09 ssga00 Homeland Security and Governmental Affairs Committee Senate Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S4019-4020) IntroReferral 2021-06-09 Introduced in Senate IntroReferral 10000 9 Library of Congress S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL N C001098 Sen. Cruz, Ted [R-TX] Ted Cruz R TX 2021-06-09 True B001310 Sen. Braun, Mike [R-IN] Mike Braun R IN 2021-06-09 True B001261 Sen. Barrasso, John [R-WY] John Barrasso R WY 2021-06-09 True E000295 Sen. Ernst, Joni [R-IA] Joni Ernst R IA 2021-06-09 True B001243 Sen. Blackburn, Marsha [R-TN] Marsha Blackburn R TN 2021-06-09 True T000278 Sen. Tuberville, Tommy [R-AL] Tommy Tuberville R AL 2021-06-09 True J000293 Sen. Johnson, Ron [R-WI] Ron Johnson R WI 2021-06-09 True L000571 Sen. Lummis, Cynthia M. [R-WY] Cynthia Lummis R WY M. 2021-06-09 True L000575 Sen. Lankford, James [R-OK] James Lankford R OK 2021-06-23 False Economics and Public Finance Budget deficits and national debt Budget process Cardiovascular and respiratory health Emergency medical services and trauma care Executive agency funding and structure Infectious and parasitic diseases Legislative rules and procedure Senate Economics and Public Finance 00 2021-06-09 Introduced in Senate 2022-08-10T15:33:00Z 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.

]]> Federal Debt Emergency Control Act of 2021 Official Title as Introduced A bill to establish processes to control inflationary pressures and the Federal debt, during Federal debt emergencies. Introduced in Senate IS Display Title Federal Debt Emergency Control Act of 2021 Short Title(s) as Introduced Federal Debt Emergency Control Act of 2021 Introduced in Senate IS Introduced in Senate 2021-06-09T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s1990is/xml/BILLS-117s1990is.xml 2021-06-09 Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (Sponsor introductory remarks on measure: CR S4019-4020) 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.