Balanced Budget Accountability Act

Summary

Balanced Budget Accountability Act Requires each house of Congress to adopt a concurrent budget resolution for a fiscal year which provides that, for each fiscal year for which a budget is provided under the resolution (beginning by FY2025), total outlays do not exceed total receipts and are not more than 18% of the gross domestic product for such fiscal year. Requires the Director of the Congressional Budget Office (CBO), upon the adoption by a chamber of a concurrent budget resolution for a fiscal year, to transmit to the Speaker of the House of Representatives or the President pro Tempore of the Senate (as the case may be) a certification as to whether or not that chamber has met the requirements of this Act with respect to the resolution. Requires the appropriate payroll administrator of each chamber to deposit in an escrow account all mandatory payments for compensation of Members of Congress serving in that chamber if CBO does not certify that it has adopted a concurrent budget resolution for FY2016 before April 16, 2015. Requires deposits to begin on such date and to be released to appropriate Members on the earlier of: the day on which CBO certifies that the chamber has met the requirements of this Act with respect to FY2016, or the last day of the 114th Congress. Sets forth the same requirements for FY2017 if CBO does not certify that a chamber has adopted a concurrent budget resolution for FY2017 before April 16, 2016. Requires legislation in the House and Senate that increases revenue to be agreed upon only by an affirmative vote of three-fifths of the Members of that chamber.

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Timeline

1. 12 February 2015

   Introduced

   Read twice and referred to the Committee on the Budget. (Sponsor introductory remarks on measure: CR S988; text of measure as introduced: CR S988-989)

   Source: IntroReferral

2. 12 February 2015

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 12 February 2015 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 12 February 2015

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 12 February 2015

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 12 February 2015

  Open at official source

Sponsors

• Steve Daines · R · Sponsor
• Bill Cassidy · R · Sponsor
• Sen. Gardner, Cory [R-CO] · R · Sponsor
• Tom Cotton · R · Sponsor
• Sen. Perdue, David [R-GA] · R · Cosponsor
• Dan Sullivan · R · Cosponsor
• · ssbu00 · Standing

Related records

• related to → Balanced Budget Accountability Act