Cut, Cap, and Balance Act of 2011

Jul. 19, 2011 | H.R. 2560

The bill allows an increase in the debt limit only if Congress also passes a balanced-budget constitutional amendment. The balanced budget amendment would set fiscal year 2012 discretionary spending at $1.019 trillion and enforce unrealistic statutory spending caps that would limit spending as a percentage of gross domestic product (GDP) for a 10-year period. The bill passed.