I 

118TH CONGRESS 

2D SESSION H. R. 9519 

To establish a limit on increases in total Federal spending, and for other 

purposes. 

IN THE HOUSE OF REPRESENTATIVES 

SEPTEMBER 10, 2024 

Mr. EDWARDS introduced the following bill; which was referred to the Committee on the Budget, and in addition to the Committees on Appropriations, and Rules, for a period to be subsequently determined by the 

Speaker, in each case for consideration of such provisions as fall within 

the jurisdiction of the committee concerned 

A BILL 

To establish a limit on increases in total Federal spending, 

and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Stop Bankrupting Our 

5 Country Act’’. 

6 SEC. 2. LIMIT ON GROWTH OF FEDERAL SPENDING. 

7 (a) LIMIT.— 

8 (1) IN GENERAL.—Except as provided in para9 graph (2), during any fiscal year beginning with fisVerDate Sep 11 2014 18:09 Sep 13, 2024 Jkt 049200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H9519.IH H9519

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1 cal year 2025, the total amount of Federal expendi2 tures during such fiscal year may not exceed the 

3 total amount of Federal expenditures for the pre4 ceding fiscal year, increased by a percentage equal 

5 to— 

6 (A) the average inflation change, expressed 

7 as a percentage, for the calendar year ending in 

8 such preceding fiscal year and the preceding 

9 two calendar years, plus 

10 (B) the average change in national popu11 lation, expressed as a percentage, for the cal12 endar year ending in such preceding fiscal year 

13 and the preceding two calendar years. 

14 (2) EXCEPTION.—Congress may only increase 

15 the spending limit established under this section for 

16 a fiscal year by an affirmative vote of two-thirds of 

17 the Members of the House of Representatives and 

18 the Senate. 

19 (b) SEQUESTRATION.— 

20 (1) IN GENERAL.—Not later than January 15 

21 of each calendar year, the Director of the Office of 

22 Management and Budget shall determine whether 

23 Federal expenditures for the most recently ended fis24 cal year exceeded Federal expenditures for the preVerDate Sep 11 2014 18:09 Sep 13, 2024 Jkt 049200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H9519.IH H9519

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1 vious fiscal year under subsection (a) and submit a 

2 report to Congress and the President. 

3 (2) RESCISSION.—If the Director determines 

4 that Federal expenditures were so exceeded under 

5 paragraph (1), on the date such report is issued, 

6 there is hereby rescinded an amount equal to the ex7 cess of such expenditures. Such a rescission shall be 

8 applied to all accounts in a uniform percentage nec9 essary to achieve the level of the required rescission, 

10 except that with respect to any such rescission— 

11 (A) any account exempted from sequestra12 tion under the Balanced Budget and Emer13 gency Deficit Control Act of 1985 shall be ex14 empt; and 

15 (B) the general and special sequestration 

16 rules under such Act for accounts, including the 

17 rules under section 256 of such Act, shall 

18 apply. 

19 (c) DEFINITIONS.—In this Act— 

20 (1) the term ‘‘Federal expenditures’’ means 

21 total Federal expenditures, including all mandatory 

22 spending and discretionary spending, but does not 

23 include net interest payments on the debt; 

24 (2) the term ‘‘inflation change’’ means the per25 centage increase in implicit price deflator for gross 


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1 domestic product as reported by the Bureau of Eco2 nomic Analysis (or any successor agency); and 

3 (3) the term ‘‘population’’ means the number of 

4 individuals residing in the United States, excluding 

5 members of the Armed Forces stationed overseas, as 

6 reported annually by the Bureau of the Census. 

Æ 


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