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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 20 October 2021

  ViewDownloadOpen at official source

• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 20 October 2021

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 19 October 2021

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.