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Balanced Budget Act: Fighting Inflation and Controlling Public Spending.

This act aims to introduce financial discipline in government to prevent excessive spending and debt. It means future budgets will need to strive for balance, which could impact price stability and purchasing power, potentially protecting citizens' savings from inflation. It also establishes stricter rules for spending to ensure public funds are used as intended.
Key points
Balanced Budget Requirement: Future budgets must aim for zero deficit within 9 years, intended to limit national debt.
Spending Limits: The act prevents spending more money on programs than previously authorized, aiming to prevent waste.
Tougher Budget Rule Waivers: Stricter rules are introduced for waiving budget rules, increasing accountability for public finances.
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Expired
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Additional Information
Print number: 117_S_4020
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2022-04-06
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Fight Inflation Through Balanced Budgets Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4020.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-04-06.

What are the main provisions?

Key points include:

  • Balanced Budget Requirement: Future budgets must aim for zero deficit within 9 years, intended to limit national debt.
  • Spending Limits: The act prevents spending more money on programs than previously authorized, aiming to prevent waste.
  • Tougher Budget Rule Waivers: Stricter rules are introduced for waiving budget rules, increasing accountability for public finances.
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: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy Public Investments Taxes