Cut, Cap, and Balance Act Passes in House

HR 2560 , the Cut, Cap, and Balance Act was passed by a vote of 234 – 190. The bill has three major portions: 1) it limits total discretionary spending for FY 2012 to $1.016 trillion, exempting Social Security, Medicare, Veterans Benefits, and Interest on National Debt, and limits other direct spending to $680.7 billion. 2) limits all on-budget and off-budget outlays of Federal spending in future years to a percentage of GDP, starting with 21.7% for FY 2013, diminishing to 19.9% by FY 2021. 3) Increases the debt ceiling to $16.7 trillion on the condition that a Balanced Budget Amendment to the Constitution be forwarded to the States for consideration and ratification.

Five Democrats joined 229 Republicans for the measure: Boren (OK-2), Cooper (TN-5), Matheson (UT-2), McIntyre (NC-7), and Shuler (NC-11). Nine Republicans joined 181 Democrats in voting against the bill: Bachmann (MN-6), Broun (GA-10), Canseco (TX-23), DesJarlais (TN-4), Griffith (VA-9), Jones (NC-3), Mack (FL-14), Paul (TX-14), and Rohrabacher (CA-46).

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