Fiscal Responsibility for a Sound Future Act

Summary

Fiscal Responsibility for a Sound Future Act - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend through FY 2005 the spending caps for discretionary, highway, and mass transit categories in new budget authority and outlays. Declares that Congress should enact a limit on total discretionary spending for FY 2006. Retains (eliminates the expiration of) pay-as-you-go. Reenacts into law (effective for FY 2005) certain budget enforcement mechanisms through FY 2015. Makes it out of order in the Senate to consider under expedited procedures applicable to reconciliation in the Congressional Budget Act of 1974 any measure that increases the deficit in the: (1) first fiscal year covered by the most recently adopted concurrent resolution on the budget; (2) first five fiscal years covered by such adoption; or (3) first five fiscal years following such period. Amends H.Con.Res. 95 (108th Congress) to revise provisions concerning the Pay-As-You-Go point of order rule in the Senate to: (1) modify the formula used to estimate the baseline; and (2) extend the application of such rule through FY 2015.

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Timeline

1. 24 January 2005

   Introduced

   Read twice and referred to the Committee on the Budget. (text of measure as introduced: CR S210)

   Source: IntroReferral

2. 24 January 2005

   Introduced

   Sponsor introductory remarks on measure. (CR S137-138)

   Source: IntroReferral

3. 24 January 2005

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 24 January 2005 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 24 January 2005

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 24 January 2005

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 24 January 2005

  Open at official source

Sponsors

• Sen. Conrad, Kent [D-ND] · D · Sponsor
• Sen. Reid, Harry [D-NV] · D · Sponsor
• Sen. Feingold, Russell D. [D-WI] · D · Sponsor
• Sen. Mikulski, Barbara A. [D-MD] · D · Sponsor
• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• Sen. Inouye, Daniel K. [D-HI] · D · Sponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Sponsor
• Sen. Salazar, Ken [D-CO] · D · Sponsor
• Sen. Rockefeller, John D., IV [D-WV] · D · Sponsor
• Charles Schumer · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Sen. Dayton, Mark [D-MN] · D · Sponsor
• Rep. Dodd, Christopher J. [D-CT-2] · D · Sponsor
• Sen. Clinton, Hillary Rodham [D-NY] · D · Sponsor
• Sen. Kohl, Herb [D-WI] · D · Cosponsor
• Sen. Levin, Carl [D-MI] · D · Cosponsor
• Rep. Dorgan, Byron L. [D-ND-At Large] · D · Cosponsor
• Rep. Boxer, Barbara [D-CA-6] · D · Cosponsor
• Rep. Nelson, Bill [D-FL-11] · D · Cosponsor
• · ssbu00 · Standing

Related records

• related to ← Fiscal Responsibility for a Sound Future Act