Economic Disaster Prevention Act of 2010
Latest action. Read twice and referred to the Committee on the Budget.
Economic Disaster Prevention Act of 2010 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish non-defense discretionary spending limits for FY2011-FY2020.
Prohibits the total level of direct spending for all direct spending programs, projects, and activities for FY2011-FY2020 from exceeding the respective total levels for the previous fiscal year after the direct spending for each such program, project, or activity is increased by a specified calculation.
Requires the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) to issue non-defense discretionary spending limit and direct spending limit sequestration preview reports, including updates.
Requires the OMB report to explain: (1) any differences between OMB and CBO estimates of any net direct spending change, any excess deficit, any breach, and any required sequestration percentage; and (2) differences in the amount of sequesterable resources for any budget account to be reduced if such difference is greater than $5 million.
Requires the President to issue a sequestration order, effective on issuance, if OMB in its Final Sequestration Report estimates that any sequestration is required.
Requires the Comptroller General, upon request of the congressional budget committees, to report to Congress and the President on the extent to which each such issued presidential order or OMB or CBO report complies with all of the requirements contained in this Act.
Requires CBO to send Congress a low-growth report if real economic growth is projected or estimated to be less than zero with respect to each of any two consecutive quarters within a specified period.
Amends the Congressional Budget Act of 1974 with respect to enforcement mechanisms for: (1) non-defense discretionary spending limits; (2) direct spending limits; and (3) sequestration orders.
Amends the Gramm-Rudman-Hollings Act to prescribe administrative and legislative procedures for spending reduction orders to eliminate breaches of non-defense discretionary spending limits and direct spending limits.
Makes it out of order to consider in the Senate or the House of Representatives any legislation that increases the level of direct spending for an existing program or creates new direct spending unless it provides that the increased or new direct spending expires 10 years after its effective date.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on March 10, 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 March 10, 2010: Read twice and referred to the Committee on the Budget.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- 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?
ROBERT BENNETT (R-UT) introduced it on March 10, 2010. No cosponsors are recorded.
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 March 10, 2010, 6075 days ago. The most recent recorded action was 6075 days ago, on March 10, 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
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers