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Debt Control and Budget Management Act of 2011 Guidelines

The Debt Control and Budget Management Act of 2011 lays out procedures for debt ceiling increases, Balanced Budget Amendment vote, Joint Committee formation, and deficit reduction measures. Failure to meet targets triggers automatic cuts.

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Debt Control and Budget Management Act of 2011 Guidelines

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  1. Pass Budget Control Act of 2011 $400b debt ceiling increase (subject to disapproval) If no disapproval, $500b additional debt ceiling increase Balanced Budget Amendment vote Joint Committee Forms Joint Committee reports and Congress enacts bill with at least $1.2 trillion in debt reduction BBA fails Joint Committee either fails completely or enacts less than $1.2 trillion in debt reduction BBA passes Presidential request for $1.5 trillion debt ceiling increase (subject to disapproval); Joint Committee continues work Unless already granted due to BBA passage, Presidential request for $1.2 trillion debt limit increase (subject to disapproval); no matter what, across-the-board cuts make up the difference between deficit reduction to come out of Committee and $1.2 trillion Presidential request for equal amount of debt ceiling increase (subject to disapproval) up to $1.5 trillion (unless already granted due to BBA passage)

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