Cap Federal Spending

Cap Federal Spending
The United States does not have a revenue problem, it has a spending problem.  Every dollar the federal government takes out of the American economy is a dollar that cannot be used by American companies and entrepreneurs to create jobs and economic growth.  That is why the RSC and its members are working on several options to establish statutory, enforceable caps to align federal spending with average revenues at 18% of GDP.
Returning to Responsible Fiscal Policies Act
H.R. 2041
One Percent Spending Reduction Act
H.R. 1848
Sponsor: Rep. Jack Kingston (GA-01) Sponsor: Rep. Connie Mack (FL-14)
Summary: Would limit all federal spending to 18% of GDP, phased-in over 5 years.  Would strictly limit emergency spending, exempt only interest payments on the national debt, and require a two-thirds vote of both houses of Congress to override the law.   Summary: Would limit all federal spending to 18% of GDP, phased-in over 6 years with a 1% reduction in spending annually.  Would exempt only interest payments on the national debt.  Would require a two-thirds vote of both Houses of Congress to override the cap.  
Enforcement: If Congress is unwilling or unable to bring spending within the limit, spending would automatically be cut across-the-board to meet the prescribed spending level for that year. Spending would be divided into three categories: direct (entitlements), non-security discretionary and security-related discretionary. Cuts would be applied proportionally in each of these categories based on their level of growth from the previous year.
 Enforcement: 1) Congress and the President work together to enact program reforms and cut federal spending by one percent each year; or 2) If Congress and the President fail to do so, the bill triggers automatic, across-the-board spending cuts to ensure the one percent reduction is realized.
Documents: Bill Summary, Bill Text, Americans for Limited Government Statement in Support Documents: Bill Summary, Bill Text, Chart of Savings, One Cent Solution Statement in Support