Maximizing America’s Prosperity Act of 2021
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Oct 19, 2021)
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 just happenedOct 20, 2021
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 151.
Who’s behind it
- Placed on Calendar SenateOct 20, 2021
- Oct 20, 2021Calendars
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 151.
- Oct 19, 2021Calendars
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
- Oct 19, 2021IntroReferral10000
Introduced in Senate