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   &lt;pre&gt;[Congressional Record Volume 167, Number 23 (Monday, February 8, 2021)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mr. BURCHETT:H.R. 915.Congress has the power to enact this legislation pursuantto the following:Article 1 Section 8 Clause 18[Page H483]&lt;/pre&gt;
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     &lt;p&gt;&lt;strong&gt;Reforming America's Fiscal Toolkit Act of 2021 or the RAFT Act of 2021 &lt;/strong&gt;&lt;/p&gt; &lt;p&gt;This bill modifies the federal budget process to provide for the establishment of a target for the ratio of the public debt to the estimated gross domestic product (GDP).&lt;/p&gt; &lt;p&gt;Specifically, the bill requires congressional budget resolutions to include a recommended ratio of public debt to GDP. In addition, congressional budget resolutions for even-numbered fiscal years must either (1) instruct one or more congressional committees to recommend changes in existing laws necessary to achieve the target ratio, or (2) request the establishment of a Joint Select Committee on Fiscal Responsibility to make the recommendations.&lt;/p&gt; &lt;p&gt;The bill also sets forth requirements for (1) establishing the Joint Select Committee on Fiscal Responsibility if it is requested, and (2) considering the recommendations of the joint committee or other congressional committees using expedited legislative procedures in the Senate. &lt;/p&gt;
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Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-02-08
2021-02-08
Referred to the Committee on Rules, and in addition to the Committee on the Budget, 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.
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Rep. Burchett, Tim [R-TN-2]
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2021-02-08
Introduced in House
 <p><strong>Reforming America's Fiscal Toolkit Act of 2021 or the RAFT Act of 2021 </strong></p> <p>This bill modifies the federal budget process to provide for the establishment of a target for the ratio of the public debt to the estimated gross domestic product (GDP).</p> <p>Specifically, the bill requires congressional budget resolutions to include a recommended ratio of public debt to GDP. In addition, congressional budget resolutions for even-numbered fiscal years must either (1) instruct one or more congressional committees to recommend changes in existing laws necessary to achieve the target ratio, or (2) request the establishment of a Joint Select Committee on Fiscal Responsibility to make the recommendations.</p> <p>The bill also sets forth requirements for (1) establishing the Joint Select Committee on Fiscal Responsibility if it is requested, and (2) considering the recommendations of the joint committee or other congressional committees using expedited legislative procedures in the Senate. </p>
2022-01-21T16:45:39Z
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2021-02-08
Introduced in House
 <p><strong>Reforming America's Fiscal Toolkit Act of 2021 or the RAFT Act of 2021 </strong></p> <p>This bill modifies the federal budget process to provide for the establishment of a target for the ratio of the public debt to the estimated gross domestic product (GDP).</p> <p>Specifically, the bill requires congressional budget resolutions to include a recommended ratio of public debt to GDP. In addition, congressional budget resolutions for even-numbered fiscal years must either (1) instruct one or more congressional committees to recommend changes in existing laws necessary to achieve the target ratio, or (2) request the establishment of a Joint Select Committee on Fiscal Responsibility to make the recommendations.</p> <p>The bill also sets forth requirements for (1) establishing the Joint Select Committee on Fiscal Responsibility if it is requested, and (2) considering the recommendations of the joint committee or other congressional committees using expedited legislative procedures in the Senate. </p>
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Referred to the Committee on Rules, and in addition to the Committee on the Budget, 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.