Limit, Save, Grow Act of 2023
The source supplies the latest action, but no lifecycle stage.
Latest action (4 May 2023): Committee on the Budget. Hearings held. Hearings printed: S.Hrg. 118-76.
What this bill does
The Limit, Save, Grow Act of 2023 is a bill that proposes to increase the federal debt limit while also cutting spending. It aims to achieve this by rescinding previously appropriated but unused funds, particularly those related to COVID-19 relief and the Inflation Reduction Act. The bill also seeks to repeal or modify several tax credits for energy production and energy efficiency improvements.
Additionally, the bill would alter work requirements for recipients of the Supplemental Nutrition Assistance Program (SNAP) and other public assistance programs. It also proposes to nullify certain executive actions and future regulations from the Department of Education concerning federal student loan debt cancellation and repayment plans, and to restrict the department's authority to issue economically significant regulations that increase loan subsidy costs.
This bill has passed the House of Representatives and is now being considered by the Senate.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Limit, Save, Grow Act of 2023
This bill increases the federal debt limit and decreases spending. It also repeals several energy tax credits, modifies the permitting process and other requirements for energy projects, expands work requirements for the Supplemental Nutrition Assistance Program (SNAP) and other programs, and nullifies regulations for the cancellation of federal student loan debt.
DIVISION A--LIMIT FEDERAL SPENDING
TITLE I--DISCRETIONARY SPENDING LIMITS FOR DISCRETIONARY CATEGORY
(Sec. 101) This section establishes discretionary spending limits for FY2024-FY2033 that include decreases in discretionary spending.
In addition, the section extends and establishes new limits for several adjustments to discretionary spending limits that are permitted under current law to accommodate additional appropriations for certain activities. These adjustments apply to spending for
• continuing disability reviews and redeterminations,
• health care fraud and abuse control,
Timeline
4 May 2023
Committee on the Budget. Hearings held. Hearings printed: S.Hrg. 118-76.
Common questions
- What does H.R. 2811 do?
- The Limit, Save, Grow Act of 2023 is a bill that proposes to increase the federal debt limit while also cutting spending. It aims to achieve this by rescinding previously appropriated but unused funds, particularly those related to COVID-19 relief and the Inflation Reduction Act. The bill also seeks to repeal or modify several tax credits for energy production and energy efficiency improvements. Additionally, the bill would alter work requirements for recipients of the Supplemental Nutrition Assistance Program (SNAP) and other public assistance programs. It also proposes to nullify certain executive actions and future regulations from the Department of Education concerning federal student loan debt cancellation and repayment plans, and to restrict the department's authority to issue economically significant regulations that increase loan subsidy costs. This bill has passed the House of Representatives and is now being considered by the Senate.
- Has H.R. 2811 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 2811. Check the latest action and official source below.
- Who sponsored H.R. 2811?
- H.R. 2811 was sponsored by Rep. Arrington, Jodey C. [R-TX-19] (R-TX), with 19 cosponsors.
- What's the latest action on H.R. 2811?
- Committee on the Budget. Hearings held. Hearings printed: S.Hrg. 118-76. (4 May 2023).
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