H.R.2920 - Statutory Pay-As-You-Go Act of 2009
To reinstitute and update the Pay-As-You-Go requirement of budget neutrality on new tax and mandatory spending legislation, enforced by the threat of annual, automatic sequestration. view all titles (2)
All Bill Titles
- Official: To reinstitute and update the Pay-As-You-Go requirement of budget neutrality on new tax and mandatory spending legislation, enforced by the threat of annual, automatic sequestration. as introduced.
- Short: Statutory Pay-As-You-Go Act of 2009 as introduced.
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|Latest Amendment||Status||Purpose View All Amendments |
|H.Amdt 362||Fail||An amendment in the nature of a substitute printed in Part C of House Report 111-217 to establish caps on discretionary spending from FY2010 through FY2014 and a cap on total spending as a percentage of gross domestic product. It would also put in place maximum limits on deficits through 2019, again as a percentage of gross domestic product.|
|H.Amdt 361||Offered||An amedment in the nature of a substitute printed in Part A of House Report 111-217 to limit the current policy adjustment, as it applies to the 2001 and 2003 tax cuts, to tax cuts for the middle class and does not provide for a current policy adjustment for upper income taxpayers. It provides for the use of CBO cost estimates when such estimates are available prior to final congressional action on legislation, printed in the Congressional Record, and incorporated into legislation upon enrollment. When such estimates are not available prior to final congressional action, provides that OMB estimates shall be used. It requires deficit neutrality over both five and ten year periods, mirroring House rules. It conforms emergency designation procedures for the purposes of statutory PAYGO with emergency designation procedures in the House rules, and does not require a separate presidential emergency designation. Finally, it incorporates the judicial review section from the Balanced Budget and Emergency Deficit Control Act of 1985.|
|Latest Actions View All Actions |
|Jul 23, 2009||Received in the Senate and Read twice and referred to the Committee on the Budget.|
|Jul 22, 2009||Motion to reconsider laid on the table Agreed to without objection.|
|Jul 22, 2009||On passage Passed by recorded vote: 265 - 166 (Roll no. 612).|