Budget Deficit Control Act

Summary

Budget Deficit Control Act - Declares it the policy of the Congress to balance the Federal budget annually. Directs the Secretary of the Treasury to determine, during the first quarter of each fiscal year, whether anticipated Federal revenues will cover the level of budget outlays set forth in the concurrent resolution on the budget for such fiscal year. Requires the President, if the Secretary anticipates a deficit, to issue an order sequestering controllable expenditures to effect a pro rata reduction which would balance the budget. Renders such orders effective within 15 days, unless revised or abrogated by the Congress. Sets forth expedited procedures for Congressional review of such orders. Authorizes the Congress, on its own motion or upon request of the President, to suspend the operation of an order which has taken effect.

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Timeline

1. 25 March 1981

   Introduced

   Referred to House Committee on Government Operations.

   Source: IntroReferral

2. 25 March 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 March 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 31 March 1981

   Referred

   Referred to Subcommittee on Legislation and National Security.

   Source: Committee

5. 31 March 1981

   Committee

   Executive Comment Requested from OMB, Treasury.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 25 March 1981

  Open at official source

Sponsors

• Rep. Murtha, John P. [D-PA-12] · D · Sponsor
• · hsgo00 · Standing
• · hsru00 · Standing

Related records

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