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Federal Spending Cap: Mandatory Budget Limits and Automatic Program Cuts.

This law establishes mandatory, decreasing limits on non-interest federal spending, measured as a percentage of potential GDP. If spending exceeds these caps, automatic cuts will be triggered across many government programs, potentially affecting public services and benefits. The goal is to reduce the size of the government and balance the budget by 2033.
Key points
Imposes strict federal spending limits, requiring a reduction from 20.7% of potential GDP in 2024 down to 17.5% by 2033.
Automatic budget cuts (sequestration) are mandated if Congress and the President exceed these limits, impacting funding for various programs.
Requires the President to publicly rank all government programs into five categories of importance, from "vital" to "unsuited for national policy."
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Expired
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Additional Information
Print number: 118_S_2123
Sponsor: Sen. Braun, Mike [R-IN]
Process start date: 2023-06-22
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Maximizing America’s Prosperity Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2123.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-06-22.

What are the main provisions?

Key points include:

  • Imposes strict federal spending limits, requiring a reduction from 20.7% of potential GDP in 2024 down to 17.5% by 2033.
  • Automatic budget cuts (sequestration) are mandated if Congress and the President exceed these limits, impacting funding for various programs.
  • Requires the President to publicly rank all government programs into five categories of importance, from "vital" to "unsuited for national policy."
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 2025-12-26.

CATEGORIES

Economy Public Investments