,i #aafth ,,congress #ast ,session ,h4 ,r4 #cicj ,,in ,,the ,,house ,,of ,,representatives ,july #bd1 #bjai,mr4 ,brady 7for himself1 ,mr4 ,gosar1 ,mr4 ,davidson of ,ohio1 ,mr4 ,weber of ,texas1 ,mr4 ,taylor1 ,mr4 ,schweikert1 ,mr4 ,williams1 and ,mr4 ,wright7 introduced the following bill2 which was referred to the ,committee on the ,budget1 and in addition to the ,committee on ,rules1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to cap noninterest ,federal spending as a percentage of potential ,,gdp to right-size the ,government1 grow the economy1 and balance the budget4 #a4 ,short title ,this title may be cited as the ,maximizing ,america's ,prosperity ,act of #bjai4 #b4 ,total spending limits 7a7 ,total ,spending ,limits ,section #bea of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ija7 is amended to read as follows3 #bea4 ,total spending limits 7a7 ,projections 7#a7 ,,omb report ,,omb shall prepare a report comparing projected total spending under section #beg and the total spending limits in subsection 7c71 and include such report in the budget as submitted by the ,president annually under section #aaje7;a7 of title #ca1 ,united ,states ,code4 7#b7 ,,cbo report ,,cbo shall prepare a report comparing projected total spending under section #beg and the total spending limits in subsection 7c71 and include such report in the ,,cbo annual baseline and reestimate of the ,president's budget4 7#c7 ,inclusion in spending reduction orders ,reports prepared pursuant to this subsection shall be included in a spending reduction order issued under subsection 7b74 7b7 ,spending ,reduction ,order 7#a7 ,in general ,within #ae calendar days after ,congress adjourns to end a session1 there shall be a spending reduction order under section #bed7;f77#d74 7#b7 ,calculation of spending reduction ,subject to paragraph 7#c71 each non-exempt budget account shall be reduced by a dollar amount calculated by multiplying the enacted level of sequestrable budgetary resources in that account at that time by the uniform percentage necessary to achieve the required automatic spending reduction4 7#c7 ,limitation on reduction ,no budget account shall be subject to a spending reduction of more than #e percent of the budgetary resources of the budget account4 7c7 ,fiscal ,years of the ,total ,spending ,period ,the total spending limit for each fiscal year shall be as follows3 7#a7 ,fiscal year #bjbb3 #ah4i percent of potential ,,gdp4 7#b7 ,fiscal year #bjbc3 #ah4f percent of potential ,,gdp4 7#c7 ,fiscal year #bjbd3 #ah4b percent of potential ,,gdp4 7#d7 ,fiscal year #bjbe3 #ah4d percent of potential ,,gdp4 7#e7 ,fiscal year #bjbf3 #ah4d percent of potential ,,gdp4 7#f7 ,fiscal year #bjbg3 #ah4b percent of potential ,,gdp4 7#g7 ,fiscal year #bjbh3 #ah4f percent of potential ,,gdp4 7#h7 ,fiscal year #bjbi3 #ag4i percent of potential ,,gdp4 7#i7 ,fiscal year #bjcj3 #ag4g percent of potential ,,gdp4 7#aj7 ,fiscal year #bjca and subsequent fiscal years3 #ag4e percent of potential ,,gdp4 7d7 ,reduction for unfunded ,federal mandates ,the amount determined under subsection 7c7 with respect to each fiscal year shall be reduced by an amount equal to the amount of the unfunded direct costs with respect to such fiscal year of ,federal mandates 7as such terms are defined in section #dba of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #feh77 enacted after the date of the enactment of the ,maximizing ,america's ,prosperity ,act of #bjai4 ,such amount shall not be treated as being less than zero with respect to any fiscal year4 4 7b7 ,definitions ,section #bej7;c7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ijj7;c77 is amended by adding at the end the following3 7#bb7 7,a7 ,the term total spending means all budget authority and outlays of the ,government excluding net interest4 7,b7 ,the term total spending limit means the maximum permissible total spending of the ,government set forth as a percentage of estimated potential ,,gdp specified in section #bea7;c74 7#bc7 ,the term potential ,,gdp means the gross domestic product that would occur if the economy were at full employment1 not exceeding the employment level at which inflation would accelerate4 4 7c7 ,conforming amendments ,part ,c of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ijj et seq47 is amended-- 7#a7 in section #bed 7#b ,u4,s4,c4 #ijd7-- 7,a7 in subsection 7a71 in the table1 by inserting and spending reduction after sequestration each place it appears2 7,b7 in subsection 7c7-- 7i7 in the subsection heading1 by inserting and spending reduction after ,sequestration2 7ii7 in paragraph 7#a71 by striking discretionary1 pay-as-you-go1 and deficit sequestration and inserting pay-as-you-go and deficit sequestration and regarding spending reduction2 7iii7 by striking paragraph 7#b7 and inserting the following3 7#b7 ,spending reduction report ,the preview reports shall set forth for the budget year estimates for each of the following3 7,a7 ,estimated total spending4 7,b7 ,estimate of potential ,,gdp4 7,c7 ,the spending reduction necessary to comply with the total spending limit under section #bea7;c74 2 7,c7 in subsection 7e7-- 7i7 in the subsection heading1 by inserting and spending reduction after ,sequestration2 and 7ii7 by inserting and spending reduction after sequestration each place it appears2 and 7,d7 in subsection 7f7-- 7i7 in the subsection heading1 by inserting and spending reduction after ,sequestration2 7ii7 in paragraph 7#a71 by inserting and spending reduction after sequestration2 7iii7 by striking paragraph 7#b72 7iv7 by redesignating paragraphs 7#c71 7#d71 and 7#e7 as paragraphs 7#b71 7#c71 and 7#d71 respectively2 and 7v7 in paragraph 7#b71 as so redesignated-- 7,i7 in the heading1 by inserting and spending reduction before reports2 7,,ii7 in the first sentence1 by inserting spending reduction report after preview reports2 and 7,,iii7 by striking the second sentence and inserting the following3 ,in addition1 these reports shall contain1 for the budget year1 for each account to be sequestered or subject to a spending reduction1 as the case may be1 estimates of the baseline level of sequestrable or reducible budgetary resources and resulting outlays and the amount of budgetary resources to be sequestered or reduced and resulting outlay reductions42 7vi7 in paragraph 7#c71 as so redesignated1 by striking sequesterable and inserting sequestrable or reducible2 and 7vii7 in paragraph 7#d71 as so redesignated-- 7,i7 by inserting or spending reduction after final sequestration2 7,,ii7 by inserting or spending reduction before is required2 and 7,,iii7 by inserting or spending reductions1 as the case may be1 after sequestrations2 7#b7 in section #beg7;a7 7#b ,u4,s4,c4 #ijg7;a771 by inserting total spending1 after outlays12 and 7#c7 in section #beh;,c7a77#a7 7#b ,u4,s4,c4 #ijg;d7a77#a77-- 7,a7 by inserting or spending reduction after sequestration each place the term appears2 and 7,b7 by striking #beb or #bec and inserting #bea1 #beb1 or #bec4 7d7 ,table of contents ,the table of contents in section #bej7;a7 of the ,balanced ,budget and ,emergency ,deficit ,control ,act of #aihe 7#b ,u4,s4,c4 #ijj7;a77 is amended by striking the item relating to section #bea and inserting the following3 ,sec4 #bea4 ,total spending limits4 4 #c4 ,allocation for emergencies 7a7 ,in general ,section #cjb7;a7 of the ,congressional ,budget ,act of #aigd 7#b ,u4,s4,c4 #fcc7;a77 is amended by adding at the end the following new paragraph3 7#f7 ,allocation to the ,committees on ,appropriations for emergencies ,of the amounts of new budget authority and outlays allocated to the ,committees on ,appropriations for the first fiscal year of the concurrent resolution on the budget1 #a percent shall be designated as for emergencies and may be used for no other purpose4 4 7b7 ,budget of the ,president ,section #aaje7;a77#ad7 of title #ca1 ,united ,states ,code1 is amended by inserting 1 including an amount for emergency spending not less than #a percent of all discretionary spending for that year before the period4