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HR 2675 117th Congress House Economics and Public Finance Appropriations Budget deficits and national debt Budget process Economic performance and conditions Legislative rules and procedure

Maximizing America’s Prosperity Act of 2021

Introduced: April 20, 2021 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 20, 2021
Referred to the Committee on the Budget, and in addition to the Committee on Rules, 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.
Apr 20, 2021
Introduced in House
 Plain-English summary Congressional Research Service

Maximizing America's Prosperity Act of 2021

This bill establishes annual spending limits that are equal to specified percentages of potential gross domestic product (GDP). Potential GDP generally refers to the GDP that would occur if the economy were at full employment without inflation. The spending limits apply to all budget authority and outlays of the federal government excluding net interest.

The bill establishes procedures for enforcing the spending limits, including requirements for sequestration (i.e., automatic spending cuts) and for the President's budget and congressional budget resolutions to comply with the limits.

The bill also requires at least 1% of total discretionary spending for each year to be reserved for emergencies.

What's happening now April 20, 2021

Referred to the Committee on the Budget, and in addition to the Committee on Rules, 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.

 Committees of jurisdiction 2
 Cosponsors 13
All 13 Republican 13