Budget Control Act of 2011, Public Law 112-25

Public Law No: 112-25 (08/02/2011)

Summary:

Budget Control Act of 2011 - Title I: Ten-Year Discretionary Caps with Sequester - (Sec. 101) Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to revise sequestration requirements for enforcement of discretionary spending limits (spending caps).

Title II: Vote on the Balanced Budget Amendment - (Sec. 201) Requires the House and the Senate, after September 30, 2011, and by December 31, 2011, to vote on passage of a joint resolution proposing a balanced budget amendment to the Constitution.

Title III: Debt Ceiling Disapproval Process - (Sec. 301) Authorizes the President, by December 31, 2011, to certify to Congress that the public debt is within $100 billion of the $14.294 trillion public debt limit and that further borrowing is required to meet existing commitments. Authorizes the Secretary of the Treasury to borrow an additional $900 billion, subject to the enactment of a joint resolution of disapproval.

Title IV: Joint Select Committee on Deficit Reduction - (Sec. 401) Establishes the Joint Select Committee on Deficit Reduction, whose goal shall be to reduce the deficit by at least $1.5 trillion or more over FY2012-FY2021.

Title V: Pell Grant and Student Loan Program Changes - (Sec. 501) Amends the Higher Education Act of 1965 to increase appropriations for federal Pell Grants for FY2012-FY2013.

Related items:

Financial Report of the United States Government, FY 2011 can be found here: https://bookstore.gpo.gov/products/sku/048-000-00570-5

Budget of the U.S. Government, Fiscal Year 2011 (CD-ROM) can be found here: https://bookstore.gpo.gov/products/sku/041-001-00675-3

Congressional Budget Reports & Economic Analyses collection can be found here: https://bookstore.gpo.gov/catalog/budget-economy/congressional-budget-re...

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