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United States · Bill · HR

H.R. 1383 (117th)

Debt Control Through Budget Reconciliation Act of 2021

referredUnited States· United States Congress· EN

Introduced

25 February 2021

Last action

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Status

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

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Debt Control Through Budget Reconciliation Act of 2021 This bill establishes long-term debt limits and a new reconciliation process to enforce the limits. Specifically, the bill prohibits the estimated amount of debt held by the public from exceeding a specified percentage of the estimated nominal gross domestic product (GDP) for a fiscal year. The bill limits the debt to 101% of GDP for FY2022 and decreases the limit annually until it reaches 50% of GDP for FY2050. The bill also establishes a new reconciliation process to enforce the limits. Under this process, the congressional budget resolution could direct congressional committees to report legislation to achieve the long-term debt limits. Congress would then be required to consider the legislation using expedited legislative procedures, which limit debate and amendments.

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Documents

3 official files

Introduced in House (text)

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