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The Budget Control Act of 2011 (Pub. L. 112–25 (text), S. 365, 125 Stat. 240, enacted August 2, 2011) is a federal statute enacted by the 112th United States Congress and signed into law by US President Barack Obama on August 2, 2011.
The Joint Select Committee on Deficit Reduction, [1] colloquially referred to as the Supercommittee, was a joint select committee of the United States Congress, created by the Budget Control Act of 2011 on August 2, 2011. This act was intended to prevent the sovereign default that could have resulted from the 2011 United States debt-ceiling crisis.
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 November 2024. 2013 tax increase and spending decrease This article is part of a series on the Budget and debt in the United States of America Major dimensions Economy Expenditures Federal budget Financial position Military budget Public debt Taxation Unemployment Gov't spending Programs Medicare ...
The Congressional Budget and Impoundment Control Act of 1974 was passed in response to the abuse of power under President Nixon. [1] The Act removed that power, and Train v. City of New York (whose facts predate the 1974 Act, but which was argued before the U.S. Supreme Court after its passage) closed potential loopholes in the 1974 Act. The ...
Appeal Time Clarification Act of 2011: Clarified the meaning of "the United States or an officer or agency thereof" with respect to the extended 60-day period to file appeals appeal in federal court. 112-63: December 7, 2011 Federal Courts Jurisdiction and Venue Clarification Act of 2011
On August 2, 2011, President Obama signed the Budget Control Act of 2011 as part of an agreement with Congress to resolve the debt-ceiling crisis.The Act provided for a Joint Select Committee on Deficit Reduction (the "super committee") to produce legislation by late November that would decrease the deficit by $1.2 trillion over ten years.
Title X of the Act, also known as the Impoundment Control Act of 1974, specifies that the president may request that Congress rescind appropriated funds. If both the Senate and the House of Representatives have not approved a rescission proposal (by passing legislation) within forty-five days of continuous session, any funds being withheld must ...
The Sequestration Transparency Act of 2012 (Pub. L. 112-155) requires the president to submit a report to Congress on a potential sequestration which may be triggered by the failure of the "Super Committee" to propose and for Congress to enact, a plan to reduce the U.S. Federal Budget by $1.2 trillion as required by the Budget Control Act. [15]