HR 260
Nickel Plan Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Nickel Plan Act aims to control federal spending by establishing a series of decreasing spending caps over time. Starting in fiscal year 2024, total outlays (excluding net interest payments) are capped at $5.953 trillion, less 5%, and then reduced by 5% each year until 2027. In 2028 and subsequent years, spending will be limited to 17.5% of the nation’s Gross Domestic Product. The bill also includes a sequestration process to enforce these limits, eliminating existing exemptions and requiring Congress to adjust laws to meet spending targets. Finally, it restricts consideration of bills that would violate these spending caps.
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Primary sponsor
Bob Good
Cosponsors
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