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Federal Debt Control: Ending Stimulus Spending and New Budget Rules.

This act aims to control inflation and public debt in the U.S. It introduces mechanisms that, in times of high federal debt, automatically halt unspent stimulus funds and make it harder to pass new laws increasing spending or the deficit. This is intended to protect the nation's financial stability, indirectly affecting purchasing power and overall economic health, thereby impacting citizens' personal finances.
Key points
Automatic halt of unspent funds from aid packages (e.g., pandemic-related) if public debt exceeds the country's economic output.
Introduction of stricter rules for Congress when passing new laws that would increase spending or the budget deficit during periods of high debt.
Expedited legislative procedure for bills aimed at reducing the budget deficit, intended to facilitate quicker responses to financial problems.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_4869
Sponsor: Rep. Banks, Jim [R-IN-3]
Process start date: 2021-07-30
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Federal Debt Emergency Control Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4869.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-07-30.

What are the main provisions?

Key points include:

  • Automatic halt of unspent funds from aid packages (e.g., pandemic-related) if public debt exceeds the country's economic output.
  • Introduction of stricter rules for Congress when passing new laws that would increase spending or the budget deficit during periods of high debt.
  • Expedited legislative procedure for bills aimed at reducing the budget deficit, intended to facilitate quicker responses to financial problems.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Banks, Jim [R-IN-3].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Public Investments