Maximizing America’s Prosperity Act of 2021
Latest action · Apr 20, 2021 Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 20, 2021
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 17
Members who signed on, in the order they did. Signatures ran from Apr 20, 2021 to Dec 7, 2021; 13 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-TX | Dan Crenshaw | Original | Apr 20, 2021 |
| R-IN | Jim Banks | Original | Apr 20, 2021 |
| R-TX | Jodey C. Arrington | Original | Apr 20, 2021 |
| R-OK | Kevin Hern | Original | Apr 20, 2021 |
| R-TX | Lance Gooden | Original | Apr 20, 2021 |
| R-NC | Madison Cawthorn | Original | Apr 20, 2021 |
| R-TX | Michael T. McCaul | Original | Apr 20, 2021 |
| R-TX | Pete Sessions | Original | Apr 20, 2021 |
| R-TX | Randy K. Weber, Sr. | Original | Apr 20, 2021 |
| R-TX | Roger Williams | Original | Apr 20, 2021 |
| R-KS | Ron Estes | Original | Apr 20, 2021 |
| R-TX | Ronny Jackson | Original | Apr 20, 2021 |
| R-TX | Van Taylor | Original | Apr 20, 2021 |
| R-AZ | Debbie Lesko | Jun 30, 2021 | |
| R-OK | Markwayne Mullin | Jun 30, 2021 | |
| R-MN | Tom Emmer | Jul 29, 2021 | |
| R-GA | Earl L. "Buddy" Carter | Dec 7, 2021 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Budget Committee | Referred Apr 20, 2021 |
| House | Rules Committee | Referred Apr 20, 2021 |
Actions 2
Everything that happened, newest first.
- Apr 20, 2021Introduced in House
- Apr 20, 2021Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 167, no. 68, April 20, 2021, page H1999.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1253 | Maximizing America’s Prosperity Act of 2021 | Identical bill | Apr 20, 2021 |
| S 3010 | Maximizing America’s Prosperity Act of 2021 | Related bill | Oct 20, 2021 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To cap noninterest Federal spending as a percentage of potential GDP to right-size the Government, grow the economy, and balance the budget.
- Short Title(s) as Introduced
- Maximizing America’s Prosperity Act of 2021
Subjects
Assigned by the Library of Congress. Policy area: Economics and Public Finance.
Text 1
Each version as it was printed, newest first.
- Apr 20, 2021Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
