Summary of Budget Control Act of 2011

On the evening of August 1, 2011, the House of Representatives passed S. 365, the Budget Control Act of 2011 by a vote of 269 to 161. 174 Republicans and 95 Democrats voted “aye” and 66 Republicans and 95 Democrats voted against the bill. The Senate is expected to pass the legislation on August 2nd and the President has stated that he will promptly sign the bill into law.

The design of this memorandum created by George Olsen is to describe the major features of the legislation as they relate to the extension of the debt limit and reduction of the federal budget deficit. S. 365 has four major titles.

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