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Maximizing America's Prosperity Act: Federal Spending Limits

This act aims to cap federal government spending to reduce public debt and foster economic growth. It introduces annual spending limits, expressed as a percentage of potential GDP, which may affect the availability of government-funded programs and services. Citizens might experience changes in federal support across various aspects of their lives.
Key points
Establishes fixed federal spending limits, gradually reducing them to 17.5% of potential GDP by 2031.
Requires automatic cuts in government agency budgets if spending exceeds set limits, with cuts capped at 5% for each budget account.
Mandates the President to submit a budget compliant with new limits and to prioritize government spending into five categories, from vital to less relevant for public welfare.
Allocates 1% of appropriations for emergencies, to be used exclusively for that purpose.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_3010
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2021-10-20
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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

Maximizing America’s Prosperity Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3010.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-10-20.

What are the main provisions?

Key points include:

  • Establishes fixed federal spending limits, gradually reducing them to 17.5% of potential GDP by 2031.
  • Requires automatic cuts in government agency budgets if spending exceeds set limits, with cuts capped at 5% for each budget account.
  • Mandates the President to submit a budget compliant with new limits and to prioritize government spending into five categories, from vital to less relevant for public welfare.
  • Allocates 1% of appropriations for emergencies, to be used exclusively for that purpose.
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 Sen. Braun, Mike [R-IN].

What is the latest detailed status?

The latest detailed status is: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 151.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Public Investments