Maximizing America’s Prosperity Act of 2021

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.

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Timeline

1. 20 April 2021

   Introduced

   Read twice and referred to the Committee on the Budget.

   Source: IntroReferral

2. 20 April 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 20 April 2021 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 20 April 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 20 April 2021

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 20 April 2021

  Open at official source

Sponsors

• Sen. Braun, Mike [R-IN] · R · Sponsor
• · ssbu00 · Standing

Related records

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