H.R. 5323: Save America's Future Economy Act of 2010
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H.R. 5323: Save America's Future Economy Act of 2010
111th Congress · introduced 2010-05-18 · Economics and Public Finance · Latest: Referred to the House Committee on the Budget.
federal
Follow this bill, step by step
- Where it came from: introduced 2010-05-18 · official record
- Who proposed it: Rep. Smith, Lamar [R-TX-21] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on the Budget. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Save America's Future Economy Act of 2010
Plain summary
Save America's Future Economy Act of 2010 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to require the Office of Management and Budget (OMB) to calculate the uniform percentage by which nonexempt spending accounts are to be sequestered such that total government spending for a budget year, compared to the preceding fiscal year, does not increase at a rate greater than the percentage point change in the Consumer Price Index (CPI) plus the percentage point change in annual population growth. Requires OMB to prepare annually a report to be included in the President's budget for each fiscal year setting forth: (1) the projected level of total federal spending for the current year; (2) the percentage point increase in the CPI over the fiscal year before the current year; (3) the total percentage point increase in population from July 1 of the second preceding fiscal year before the current year and July 1 of the fiscal year before the current year; (4) the sum of such total percentage point increases; and (5) the projected level of total federal spending for the budget year and the amount, if any, by which that spending would exceed the projected level of total federal spending for the current year, as adjusted by the such sum of the total percentage point increases. Prescribes requirements for OMB Preview Reports and OMB Final Sequestration Reports. Requires the President to issue a sequestration order, effective on issuance, if OMB in its Final Sequestration Report estimates that any sequestration is required. Prohibits OMB from including the budgetary effects of an emergency requirement in its estimates. Exempts from any sequestration reduction order: (1) payments for net interest; and (2) federal obligations required to be paid under the U.S. Constitution or legally contractual obligations. Extends indefinitely certain Pay-As-You-Go (PAYGO) enforcement mechanisms.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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A “Nay” vote
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What does this mean? (plain words)
Official text
Save America's Future Economy Act of 2010
Source: Congressional Research Service summary (Introduced in House)
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The strongest published arguments
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Smith, Lamar [R-TX-21] · 65 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Tom McClintock (R-CA), Darrell Issa (R-CA), Joe Wilson (R-SC), Robert E. Latta (R-OH), John R. Carter (R-TX), Jim Jordan (R-OH), Ken Calvert (R-CA), Harold Rogers (R-KY), John Boozman (R-AR), Adrian Smith (R-NE), Cynthia M. Lummis (R-WY), Marsha Blackburn (R-TN) and 5 more.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (2)
- Fiscal year
- The 12-month period a government uses for its budget. The federal fiscal year runs from October 1 to September 30 and is named for the calendar year in which it ends. Most states use July 1 to June 30.
- Obligation
- A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111hr5323.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/hr>
Record fed-us-cong111-hr5323 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111