Rep. Budd Sponsors Federal Debt Emergency Control Act
September 21, 2021
September 21, 2021
WASHINGTON, Sept. 21 -- Rep. Ted Budd, R-North Carolina, issued the following news release:
Rep. Ted Budd (R-NC) has co-sponsored H.R.4869, the Federal Debt Emergency Control Act.
The bill would require the Office of Management and Budget to declare a "Federal Debt Emergency" in any fiscal year where the federal debt exceeds 100% of the Gross Domestic Product (GDP). An emergency declaration would trigger automatic actions to reduce the debt level under 100% of . . .
Rep. Ted Budd (R-NC) has co-sponsored H.R.4869, the Federal Debt Emergency Control Act.
The bill would require the Office of Management and Budget to declare a "Federal Debt Emergency" in any fiscal year where the federal debt exceeds 100% of the Gross Domestic Product (GDP). An emergency declaration would trigger automatic actions to reduce the debt level under 100% of . . .