House Bill 2675
117th Congress(2021-2022)
Maximizing America’s Prosperity Act of 2021
Introduced
Introduced in House on Apr 20, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2675
Congress
117
Policy Area
Economics and Public Finance
Economics and Public Finance
Primary focus of measure is budgetary matters such as appropriations, public debt, the budget process, government lending, government accounts and trust funds; monetary policy and inflation; economic development, performance, and economic theory.
No House votes have been held for this bill.
Summary
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.
April 20, 2021
04/20/2021
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.
04/20/2021
Introduced in House
Public Record
Record Updated
Mar 8, 2023 7:58:55 PM