Save America's Future Economy Act of 2010
Latest action. Referred to the House Committee on the Budget.
Save America's Future Economy Act of 2010 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require the Office of Management and Budget (OMB) to calculate the uniform percentage by which nonexempt spending accounts are to be sequestered such that total government spending for a budget year, compared to the preceding fiscal year, does not increase at a rate greater than the percentage point change in the Consumer Price Index (CPI) plus the percentage point change in annual population growth.
Requires OMB to prepare annually a report to be included in the President's budget for each fiscal year setting forth: (1) the projected level of total federal spending for the current year; (2) the percentage point increase in the CPI over the fiscal year before the current year; (3) the total percentage point increase in population from July 1 of the second preceding fiscal year before the current year and July 1 of the fiscal year before the current year; (4) the sum of such total percentage point increases; and (5) the projected level of total federal spending for the budget year and the amount, if any, by which that spending would exceed the projected level of total federal spending for the current year, as adjusted by the such sum of the total percentage point increases.
Prescribes requirements for OMB Preview Reports and OMB Final Sequestration Reports.
Requires the President to issue a sequestration order, effective on issuance, if OMB in its Final Sequestration Report estimates that any sequestration is required.
Prohibits OMB from including the budgetary effects of an emergency requirement in its estimates.
Exempts from any sequestration reduction order: (1) payments for net interest; and (2) federal obligations required to be paid under the U.S. Constitution or legally contractual obligations.
Extends indefinitely certain Pay-As-You-Go (PAYGO) enforcement mechanisms.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on May 18, 2010. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on May 18, 2010: Referred to the House Committee on the Budget.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 111th Congress (2009-10), 383 of the 10,778 bills and joint resolutions introduced became law, about 3.6 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
LAMAR SMITH (R-TX) introduced it on May 18, 2010, and 65 members have since signed on as cosponsors.
They are 65 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on May 18, 2010, 6006 days ago. The most recent recorded action was 6006 days ago, on May 18, 2010.
Measures do not carry over. Anything the 111th Congress has not finished by January 3, 2011 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers