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S. 3: Fiscal Responsibility and Spending Control Act
A bill to promote fiscal responsibility and control spending.
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Introduced :
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Tue, Jan 25, 2011
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Sponsor :
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Status :
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introduced Tue, Jan 25, 2011
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May-12
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0 Total Hits For All Bills
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Co-Sponsors
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Actions
| Date | Type | Description | Result |
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1/1/0001
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action
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Read twice and referred to the Committee on Finance.
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Rolls
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Committee Assignments
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Subject Terms
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Related Legislative
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Titles Assigned
| Type | AS | Title |
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short
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introduced
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Fiscal Responsibility and Spending Control Act
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official
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introduced
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A bill to promote fiscal responsibility and control spending.
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SUMMARY:
1/25/2011--Introduced.
Fiscal Responsibility and Spending Control Act - Expresses the sense of the Senate that Congress should: (1) address the rising national debt and long-term fiscal challenges through a bipartisan agreement that significantly corrects our nation's long-term fiscal imbalances, closes the gap between projected revenues and expenditures, ensures U.S. economic security, and enhances future prosperity and growth; (2) reduce the deficit and stabilize the national debt without damaging the economic recovery; (3) consider deficit reduction proposals by leading budget experts and establish a plan that can attract broad bipartisan support; (4) ensure that any plan to address long-term fiscal problems is balanced and provides fundamental reform of the federal tax code along with prudent controls on spending; (5) eliminate tax expenditures that only serve special interests and take aggressive measures to close the tax gap and stop cheating; (6) ensure that the tax code fairly distributes the tax burden and helps American businesses compete in the global marketplace; (7) extend the solvency of Social Security and ensure that no savings are used to meet deficit reduction goals in the remainder of the budget; (8) achieve savings through the elimination or consolidation of duplicative programs and activities while modernizing government procurement practices to reduce waste and leverage better value; and (9) reject efforts to exempt tax breaks for millionaires and special interests from strong pay-as-you-go budgetary rules.
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