See How Your Politicians Voted
Title: Cut, Cap and Balance Act of 2011
Vote Smart's Synopsis:
Vote to pass a bill that establishes discretionary spending limits and requires a balanced budget amendment to the Constitution prior to increasing the debt ceiling.
- Limits discretionary spending for fiscal year 2012 to $1.02 trillion in new budget authority, and $1.22 trillion in outlays (Sec. 101).
- Limits total combined outlays for direct spending for fiscal year 2012 to $680.73 billion (Sec. 101).
- Exempts the following items from limits placed on outlays for direct spending (Sec. 101):
- Social Security;
- Veterans benefits and services; and
- Net interest.
- Limits outlays for a given fiscal year to an amount of the gross domestic product for that year multiplied by the following (Sec. 201):
- 21.7 percent for fiscal year 2013;
- 20.8 percent for fiscal year 2014;
- 20.2 percent for fiscal year 2015;
- 20.1 percent for fiscal year 2016;
- 19.9 percent for fiscal year 2017;
- 19.7 percent for fiscal year 2018; and
- 19.9 percent for fiscal years 2019-2021.
- Increases the debt ceiling from $14.3 trillion to $16.7 trillion, after Congress approves and sends to the states a balanced budget amendment to the U.S. Constitution that includes the following provisions (Sec. 301):
- Total outlays are prohibited from exceeding total receipts;
- Spending is limited to a percentage of the gross domestic product; and
- All tax increases must be approved by a two-thirds vote of both houses of Congress.