H.R.1202 - One Percent Spending Reduction Act of 2013113th Congress (2013-2014)
|Sponsor:||Rep. Scott, Austin [R-GA-8] (Introduced 03/14/2013)|
|Committees:||House - Budget; Rules|
|Latest Action:||03/14/2013 Referred to House Rules (All Actions)|
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Summary: H.R.1202 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (03/14/2013)
One Percent Spending Reduction Act of 2013 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish the aggregate projected outlay (outlay cap) (less net interest payments) for FY2014 at the FY2013 outlay cap (as estimated by the Congressional Budget Office [CBO] before March 2013), less 1%.
Reduces each outlay cap for FY2015-FY2018 by 1% of the previous fiscal year's outlay cap (as estimated by CBO before March of such fiscal year).
Requires the outlay cap for FY2019 and each subsequent fiscal year to be 18% of the CBO-estimated gross domestic product (GDP) for that calendar year.
Amends the Congressional Budget Act of 1974 to make it out of order in both chambers to consider any bill, joint resolution, amendment, or conference report that includes any provision that would cause the most recently reported, current outlay cap to be exceeded. Prescribes procedures for waiver or suspension of this rule.