CAP Act of 2011

Summary

Commitment to American Prosperity Act of 2011 or CAP Act of 2011 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require: (1) the Office of Management and Budget (OMB) to estimate the Gross Domestic Product (GDP) outlay limit for the target fiscal year at the outset of the previous fiscal year, on April 30, on August 20, and 15 days after the conclusion of the fiscal year; (2) the Congressional Budget Office (CBO) to provide advisory reports calculating the GDP outlay limit at identical times; and (3) a sequestration by OMB within 45 calendar days after the beginning of a fiscal year to eliminate the excess outlay amount. Prescribes requirements for CBO and OMB advisory sequestration preview reports and an OMB final sequestration report, accompanied by a presidential order detailing the uniform spending reduction. Requires the House and the Senate budget committees to report a resolution directing their committees to change the existing law to achieve the goals outlined in the OMB August 20 report if it projects a sequestration. Allows total federal outlays to exceed the GDP outlay limit if during the fiscal year the excess amount is being paid to reduce the public debt or the public debt is zero. States that if, after November 15, a bill resulting in outlays for the current fiscal year is enacted that causes excess outlays, the excess outlays for the next fiscal year shall be increased by the amount or amounts of that breach. Amends the Congressional Budget Act of 1974 to make it out of order in both chambers to consider any bill, joint resolution, amendment, or conference report that includes any provision that would cause the most recently reported current GDP outlay limits in the Gramm-Rudman-Hollings Act to be exceeded. Prescribes procedures for waiver or suspension of this rule.

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Timeline

1. 1 February 2011

   Introduced

   Read twice and referred to the Committee on the Budget. (text of measure as introduced: CR S5078)

   Source: IntroReferral

2. 1 February 2011

   Introduced

   Sponsor introductory remarks on measure. (CR S412-413)

   Source: IntroReferral

3. 1 February 2011

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 1 February 2011 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 February 2011

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 February 2011

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 1 February 2011

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Corker, Bob [R-TN] · R · Sponsor
• Sen. McCaskill, Claire [D-MO] · D · Sponsor
• Sen. Burr, Richard [R-NC] · R · Sponsor
• Sen. McCain, John [R-AZ] · R · Sponsor
• Sen. Alexander, Lamar [R-TN] · R · Sponsor
• Sen. Isakson, Johnny [R-GA] · R · Sponsor
• Sen. Chambliss, Saxby [R-GA] · R · Sponsor
• Sen. Inhofe, James M. [R-OK] · R · Sponsor
• Sen. Kirk, Mark Steven [R-IL] · R · Sponsor
• Sen. Kyl, Jon [R-AZ] · R · Cosponsor
• Sen. Crapo, Mike [R-ID] · R · Cosponsor
• Sen. Johnson, Ron [R-WI] · R · Cosponsor
• Sen. Lieberman, Joseph I. [ID-CT] · ID · Cosponsor
• Sen. Manchin, Joe, III [D-WV] · D · Cosponsor
• Sen. Ayotte, Kelly [R-NH] · R · Cosponsor
• Sen. Hoeven, John [R-ND] · R · Cosponsor
• · ssbu00 · Standing

Related records

• related to → Returning to Responsible Fiscal Policies Act
• related to → CAP Act of 2011