Stop Bankrupting Our Country Act

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 9519 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 9519 To establish a limit on increases in total Federal spending, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 10, 2024 Mr. Edwards introduced the following bill; which was referred to the Committee on the Budget, and in addition to the Committees on Appropriations, and Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To establish a limit on increases in total Federal spending, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Stop Bankrupting Our Country Act''. SEC. 2. LIMIT ON GROWTH OF FEDERAL SPENDING. (a) Limit.-- (1) In general.--Except as provided in paragraph (2), during any fiscal year beginning with fiscal year 2025, the total amount of Federal expenditures during such fiscal year may not exceed the total amount of Federal expenditures for the preceding fiscal year, increased by a percentage equal to-- (A) the average inflation change, expressed as a percentage, for the calendar year ending in such preceding fiscal year and the preceding two calendar years, plus (B) the average change in national population, expressed as a percentage, for the calendar year ending in such preceding fiscal year and the preceding two calendar years. (2) Exception.--Congress may only increase the spending limit established under this section for a fiscal year by an affirmative vote of two-thirds of the Members of the House of Representatives and the Senate. (b) Sequestration.-- (1) In general