H.R.2560 - Cut, Cap, and Balance Act of 2011

To cut, cap, and balance the Federal budget. view all titles (4)

All Bill Titles

  • Popular: Cut, Cap, and Balance Act of 2011 as introduced.
  • Official: To cut, cap, and balance the Federal budget. as introduced.
  • Short: Cut, Cap, and Balance Act of 2011 as introduced.
  • Short: Cut, Cap, and Balance Act of 2011 as passed house.

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Introduced
 
House
Passed
 
Senate
Passes
 
President
Signs
 

 
07/15/11
 
07/19/11
 
 
 
 
 

Sponsor

Representative

Jason Chaffetz

R-UT

View Co-Sponsors (117)
 

Latest Vote

Result: Motion to Table Agreed to - July 22, 2011

Roll call number 116 in the Senate

Question: On the Motion to Table H.R. 2560

 

OpenCongress Summary

Ties an increase in the federal debt limit to enforceable spending targets that would make deep cuts in non-Defense discretionary spending while allowing the military budget to continue to increase. It would also require passage of a constitutional Balanced Budget Amendment calling for the federal budget to deficit-neutral each year with total spending at no more than 18% of GDP, a historically low level. The amendment would require a 2/3rds majority for any revenue increases and would only allow an exception the deficit-neutral requirement in times of war.
OpenCongress bill summaries are written by OpenCongress editors and are entirely independent of Congress and the federal government. For the summary provided by Congress itself, via the Congressional Research Service, see the "Official Summary" below.

Official Summary

Cut, Cap, and Balance Act of 2011 - Title I: Cut - (Sec. 101) Amends the Congressional Budget Act of 1974 (CBA) to make it out of order in both chambers to consider any bill, joint resolution, amendment, or conference report that would cause the discretionary spending limits established in

Official Summary

Cut, Cap, and Balance Act of 2011 - Title I: Cut -

(Sec. 101)

Amends the Congressional Budget Act of 1974 (CBA) to make it out of order in both chambers to consider any bill, joint resolution, amendment, or conference report that would cause the discretionary spending limits established in this Act to be exceeded. Establishes the discretionary spending limits for FY2012 as $1,019,402,000,000 in new budget authority and $1,224,568,000,000 in outlays. Authorizes the Chairman of the Senate Committee on the Budget to adjust such limits, budgetary aggregates in the most recently adopted concurrent budget resolution, and CBA committee allocations if a bill or joint resolution is reported making appropriations for FY2012 that provides funding for the global war on terrorism. Makes it out of order in both chambers to consider any legislation that includes any provision that would cause total direct spending to exceed the spending limit specified in this Act. Exempts from such spending limits:
(1) Social Security, function 650;
(2) Medicare, function 570;
(3) Veterans Benefits and Services, function 700; and
(4) Net Interest, function 900. Makes $680.73 billion the limit on total combined outlays for all non-exempt direct spending for FY2012.

(Sec. 102)

Amends the CBA to prescribe requirements for implementing sequestration orders under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to enforce the discretionary and direct spending caps in this Act. Exempts from any sequestration orders:
(1) payments for military personnel accounts (within subfunctional category 051),
(2) TRICARE for Life,
(3) Medicare (functional category 570),
(4) military retirement,
(5) Social Security (functional category 650),
(6) veterans (functional category 700),
(7) net interest (functional category 900), and
(8) discretionary appropriations. Makes it out of order in both chambers to consider legislation which waives, modifies, or in any way alters a sequestration order unless the chair of the House or Senate Committee on the Budget certifies that the measure achieves the same levels of reductions in new budget authority and outlays for the applicable year in such order. Title II: Cap -

(Sec. 201)

Amends the CBA to prescribe requirements for enforcing GDP outlay limits. Requires:
(1) the Office of Management and Budget (OMB) to establish in the President's budget the GDP outlay limit for the budget year, and
(2) total federal outlays to include all on-budget and off-budget outlays.

(Sec. 202)

Amends the CBA to make it out of order in both chambers to consider any legislation that would cause the most recently reported current GDP outlay limits set forth in this Act to be exceeded. Title III: Balance -

(Sec. 301)

Prohibits the Secretary of the Treasury from exercising additional borrowing authority until the date that the Archivist of the United States transmits to the states for their ratification H.J. Res. 1 (as reported on June 23, 2011), S.J. Res. 10 (as introduced on March 31, 2011), or H.J. Res. 56 (as introduced on April 7, 2011), a balanced budget amendment to the Constitution, or a similar amendment if it requires that total outlays not exceed total receipts, contains a spending limitation as a percentage of GDP, and requires that tax increases be approved by a two-thirds vote in both chambers. Increases the public debt from $14.294 trillion to $16.7 trillion on the date such legislation is transmitted to the states.

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Organizations Supporting H.R.2560

  • Center for National Policy
  • Christian Coalition of America
  • Heritage Action for America
  • Campaign for Liberty
  • National Taxpayers Union
  • Americans For Prosperity
  • ...and 6 more. See all.

Organizations Opposing H.R.2560

  • AFL-CIO
  • Alliance for Retired Americans
  • American Postal Workers Union
  • Coalition of Labor Union Women
  • National Association of State Head Injury Administrators
  • American Federation of Government Employees
  • ...and 118 more. See all.


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