S. 2495: One Percent Spending Reduction Act of 2014
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S. 2495: One Percent Spending Reduction Act of 2014
113th Congress · introduced 2014-06-19 · Economics and Public Finance · Latest: Read twice and referred to the Committee on the Budget.
federal
Follow this bill, step by step
- Where it came from: introduced 2014-06-19 · official record
- Who proposed it: Sen. Enzi, Michael B. [R-WY] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the 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
One Percent Spending Reduction Act of 2014
Plain summary
One Percent Spending Reduction Act of 2014 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to establish and enforce new spending caps. Establishes the aggregate outlay cap (less net interest payments) for FY2015 at $3.774 trillion, less 1%. Reduces the outlay cap for FY2016-FY2017 by 1% of the previous fiscal year's outlay cap. Requires the outlay cap for FY2018 and subsequent fiscal years to be 18% of the gross domestic product (GDP) for that fiscal year as estimated by the Office of Management and Budget (OMB). Prohibits outlays from being less than those for the preceding fiscal year for any fiscal year beginning with FY2019. Requires OMB to enforce the spending caps using a sequestration to eliminate any excess spending through automatic cuts. Eliminates most exemptions from sequestration. Permits the budget committees to report a resolution directing the committees of their respective chambers to change existing law to achieve the spending reductions necessary to meet the outlay limits if a sequestration is projected. Amends the Congressional Budget Act of 1974 to create procedures for the House and Senate to enforce the outlay caps established in this Act.
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
One Percent Spending Reduction Act of 2014
Source: Congressional Research Service summary (Introduced in Senate)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Enzi, Michael B. [R-WY] · 8 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Rand Paul (R-KY), James E. Risch (R-ID), John Barrasso (R-WY), Jerry Moran (R-KS)
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)
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
- 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.
- Resolution
- A formal statement or decision by a legislative body. Simple resolutions often only express an opinion or set rules for one chamber; they do not become law.
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-113s2495.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/s>
Record fed-us-cong113-s2495 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113