Skip to main content
S 2495 113th Congress Senate Economics and Public Finance Budget deficits and national debt Budget process House of Representatives Legislative rules and procedure Senate

One Percent Spending Reduction Act of 2014

Introduced: July 29, 2014 See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 19, 2014
Read twice and referred to the Committee on the Budget.
Jun 19, 2014
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

One Percent Spending Reduction Act of 2014 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish and enforce new spending caps.

Establishes the aggregate outlay cap (less net interest payments) for FY2015 at $3.774 trillion, less 1%. Reduces the outlay cap for FY2016-FY2017 by 1% of the previous fiscal year's outlay cap.

Requires the outlay cap for FY2018 and subsequent fiscal years to be 18% of the gross domestic product (GDP) for that fiscal year as estimated by the Office of Management and Budget (OMB). Prohibits outlays from being less than those for the preceding fiscal year for any fiscal year beginning with FY2019.

Requires OMB to enforce the spending caps using a sequestration to eliminate any excess spending through automatic cuts. Eliminates most exemptions from sequestration.

Permits the budget committees to report a resolution directing the committees of their respective chambers to change existing law to achieve the spending reductions necessary to meet the outlay limits if a sequestration is projected.

Amends the Congressional Budget Act of 1974 to create procedures for the House and Senate to enforce the outlay caps established in this Act.


What's happening now June 19, 2014

Read twice and referred to the Committee on the Budget.

 Related & companion bills 3
  • HR 1202 Related bill One Percent Spending Reduction Act of 2013
  • S 547 Related bill One Percent Spending Reduction Act of 2013
  • S 1436 Related bill One Percent Spending Reduction Act of 2013
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Republican 4
FLAKE, JEFF
· Jul 29, 2014
 R
Moran, Jerry
Kansas · Jul 29, 2014
 R
Barrasso, John
Wyoming · Jun 19, 2014
 R
Paul, Rand
Kentucky · Jun 19, 2014
 R
Risch, James E.
Idaho · Jun 19, 2014
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2495: One Percent Spending Reduction Act of 2014. 113th Congress. Open America. https://openamerica.io/bill/113-S-2495/
MLA
"S. 2495: One Percent Spending Reduction Act of 2014." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-S-2495/.
Bluebook (legal)
S. 2495, 113th Cong. (2026), https://openamerica.io/bill/113-S-2495/.
Markdown link
[S. 2495: One Percent Spending Reduction Act of 2014](https://openamerica.io/bill/113-S-2495/)
Report a problem