S. 10: Fiscal Responsibility Act of 2009

111th Congress · introduced 2009-01-06 · Economics and Public Finance · Latest: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 10.

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Follow this bill, step by step

Where it came from: introduced 2009-01-06 · official record
Who proposed it: Sen. Reid, Harry [D-NV] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 10. 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.

What does this mean?

Official title

Fiscal Responsibility Act of 2009

Plain summary

Fiscal Responsibility Act of 2009 - Expresses the sense of Congress that Congress and the President should restore fiscal discipline and begin to address the long-term fiscal challenges facing the United States through certain measures. Specifies among such measures: (1) strong pay-as-you-go rules, to help block the approval of measures that would increase the deficit; and (2) recognition of warnings by both the Government Accountability Office (GAO) and the Congressional Budget Office (CBO) that the federal budget is on an unsustainable path of rising deficits and debt. Urges establishment of a process to: (1) analyze the current and long-term federal actuarial financial condition and the gap between the federal projected revenues and expenditures; (2) identify factors that affect the federal long-term fiscal balance; (3) analyze potential courses of action to address them; and (4) seek a bipartisan agreement, or set of agreements, that will significantly improve the nation's long-term fiscal imbalances and the gap between projected revenues and expenditures, ensure U.S. economic security, and expand future prosperity and growth for all Americans. Urges as well reviews of: (1) all federal spending and tax expenditures by the Director of the Office of Management and Budget (OMB) to identify items that are outdated, inefficient, poorly run, unnecessary, or otherwise undeserving of scarce federal resources or in need of reform; and (2) the current federal taxation system to ensure that burdens are borne fairly and equitably.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Fiscal Responsibility Act of 2009

Source: Congressional Research Service summary (Introduced in Senate)

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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: Sen. Reid, Harry [D-NV] · 15 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Richard J. Durbin (D-IL), Amy Klobuchar (D-MN), Charles E. Schumer (D-NY)

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 (3)

CBO cost estimate: The Congressional Budget Office's estimate of how a federal bill would change government spending and revenue. CBO is nonpartisan.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s10.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s10 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111